Harikanta Overseas IPO is an upcoming SME IPO that has started attracting investor attention because of its strong textile manufacturing business and growing financial performance. The company is engaged in manufacturing synthetic textile fabrics and supplies products across domestic and international markets.
The IPO will open on May 20, 2026, and the company plans to raise approximately ₹25.63 crores through a book build issue. In this detailed IPO Updates review, we will cover Harikanta Overseas IPO date, price band, GMP, allotment details, financials, subscription, strengths, risks, and whether investors should apply or avoid this IPO.(Ipo Updates)
| IPO Open Wed, May 20, 2026 | IPO Close Fri, May 22, 2026 | Price Band ₹91 to ₹96 | Market Cap (Pre-IPO) ₹94.71 Cr |
IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | May 20, 2026 |
| IPO Close Date | May 22, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹91 to ₹96 Per Share |
| Issue Size | Approx ₹25.63 Crores |
| Fresh Issue | 26,75,000 Equity Shares |
| IPO Type | Book Build Issue |
| Listing Exchange | BSE SME |
| Allotment Date | May 25, 2026 |
| Listing Date | May 27, 2026 |
About Harikanta Overseas Limited
Harikanta Overseas Limited was incorporated in 2018 and is engaged in the manufacturing of synthetic textile fabrics. The company offers a wide range of textile products used mainly in women’s and men’s ethnic wear.
Its product portfolio includes:
- Ikat Fabrics
- Polyester Garment Fabrics
- Saree Fabrics
- Dhupion Fabrics
- Poly Linen Fabrics
- Natural Fiber Fabrics
The company supplies fabrics used in:
- Sarees
- Kurtas
- Dress Materials
- Women’s Wear
- Men’s Ethnic Wear
Harikanta Overseas focuses on delivering high-quality textile solutions using advanced manufacturing technology and sustainable production practices.
The company expanded its operations in 2024 by adding new factory premises and starting in-house yarn processing initiatives.
The manufacturing facility is located in Surat, Gujarat, covering around 953.93 square meters at Sai Ram Industrial Estate-2, Bamroli.
The company exports its products to:
- Bahrain
- Singapore
- Thailand
It also serves major domestic markets including:
- Delhi
- Karnataka
- Maharashtra
- Uttar Pradesh
- Punjab
- Rajasthan
IPO Market Lot
The minimum market lot for Harikanta Overseas IPO is 2,400 shares.
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 2,400 Shares | ₹2,30,400 |
| Retail Maximum | 2 Lots | 2,400 Shares | ₹2,30,400 |
| S-HNI Minimum | 3 Lots | 3,600 Shares | ₹3,45,600 |
| S-HNI Maximum | 8 Lots | 9,600 Shares | ₹9,21,600 |
| B-HNI Minimum | 9 Lots | 10,800 Shares | ₹10,36,800 |
IPO Reservation
| Investor Category | Reservation |
|---|---|
| QIB | 50% |
| Retail Investors | 35% |
| HNI/NII | 15% |
Harikanta Overseas IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | May 20, 2026 |
| IPO Close Date | May 22, 2026 |
| Basis of Allotment | May 25, 2026 |
| Refund Initiation | May 26, 2026 |
| Credit to Demat Account | May 26, 2026 |
| Listing Date | May 27, 2026 |
| IPO Cut-Off Time | May 22, 2026 – 5 PM |
IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | 2026 |
| Lock-in Period End (50%) | 30 Days |
| Lock-in Period End (Remaining 50%) | 90 Days |
Promoters of Harikanta Overseas Limited
The promoters of the company are:
- Hardik Gotawala
- Abhishek Gotawala
- Nilesh Gotawala
| Particulars | Shares | Holding |
|---|---|---|
| Pre-Issue Holding | 71,95,740 Shares | 96.87% |
| Post-Issue Holding | 98,70,740 Shares | Updated After Listing |
Objects of the IPO
The company plans to use IPO proceeds for expansion and working capital requirements.
| Purpose | Amount |
|---|---|
| Factory Premises Expansion | ₹5.40 Crores |
| Purchase of Machinery | ₹9.33 Crores |
| Working Capital Requirement | ₹4.75 Crores |
The IPO funds may help the company improve manufacturing capacity and operational efficiency.
Harikanta Overseas IPO Financial Report
The company has shown healthy financial performance in FY2025.
| Period Ended | Revenue | Expenses | PAT | Assets |
|---|---|---|---|---|
| FY2025 | ₹35.50 Cr | ₹29.30 Cr | ₹4.47 Cr | ₹23.12 Cr |
The company reported:
- Revenue of ₹35.50 crores
- Profit after tax of ₹4.47 crores
Strong profitability and operational growth are positive indicators for long-term investors.
Harikanta Overseas IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 56.72% |
| ROCE | 37.56% |
| EBITDA Margin | 18.92% |
| Debt to Equity Ratio | 0.24 |
| EPS | ₹6.69 |
| RoNW | 32.41% |
| NAV | ₹19.16 |
The company has strong return ratios and low debt, which indicate healthy financial management.
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Betex India Limited | 13.03 | 35.61 | 5.73% | 227.34 | ₹971.46 Cr |
| Swasti Vinayaka Synthetics Ltd | 0.27 | 19.44 | 10.54% | 2.55 | ₹385.58 Cr |
Strengths of Harikanta Overseas IPO
1. Strong Textile Industry Presence
The company operates in the growing textile manufacturing sector.
2. Export Business
Harikanta Overseas exports fabrics to international markets like Bahrain, Singapore, and Thailand.
3. Strong Financial Ratios
The company has impressive ROE and ROCE figures.
4. Expansion Plans
The company is expanding manufacturing capacity and processing capabilities.
5. Low Debt Levels
The debt-to-equity ratio remains healthy at 0.24.
Risks of Harikanta Overseas IPO Market Rumors
1. SME IPO Risk
SME IPOs generally have lower liquidity and higher volatility.
2. Textile Industry Competition
The company faces strong competition from textile manufacturers.
3. Raw Material Price Fluctuation
Changes in yarn and textile raw material prices may affect profit margins.
4. Export Dependency
International market fluctuations may impact export business performance.
Harikanta Overseas IPO GMP Market Rumors
The Grey Market Premium (GMP) of Harikanta Overseas IPO may change daily based on market sentiment and subscription demand. Investors should note that GMP is unofficial and should not be the only factor considered before applying for the IPO.
Should You Apply for Harikanta Overseas IPO?
Based on the financial performance and expansion plans, Harikanta Overseas IPO looks attractive for long-term investors.
Positive Factors
- Strong profitability
- Growing textile business
- Export market presence
- Healthy return ratios
- Expansion strategy
Negative Factors
- SME IPO volatility
- Textile sector competition
- Dependence on raw material prices
Long-term investors with higher risk appetite may consider applying for this IPO.
IPO Lead Managers
Interactive Financial Services Ltd.
Company Address
Harikanta Overseas Ltd.
28, Sairam Industrial Estate, Bamroli
Surat, Gujarat – 394107
Phone: +91 9898682560
Email: info@harikantaoverseas.com
Website: http://www.harikantaoverseas.com/
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: 022-62638200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/ipo_allotment.html
Harikanta Overseas IPO FAQs
What is Harikanta Overseas IPO?
Harikanta Overseas IPO is an SME IPO through which the company plans to raise ₹25.63 crores.
What is Harikanta Overseas IPO Price Band?
The IPO price band is ₹91 to ₹96 per share.
What is Harikanta Overseas IPO Lot Size?
The minimum bid is 2,400 shares with an investment of ₹2,30,400.
What is Harikanta Overseas IPO Allotment Date?
The IPO allotment date is May 25, 2026.
What is Harikanta Overseas IPO Listing Date?
The IPO will list on BSE SME on May 27, 2026.
Should Investors Apply for Harikanta Overseas IPO?
Based on the company’s strong financials and textile business growth, the IPO appears suitable for long-term investors with higher risk tolerance.
Disclaimer
The information shared here is intended solely for educational and general awareness purposes. Any securities, investments, or IPO-related details mentioned should not be interpreted as financial advice or investment recommendations. Readers are encouraged to conduct their own independent research or seek guidance from a qualified financial professional before making investment decisions.
IPO-related updates are provided for informational use only. Market trends, past performance, or investor interest do not ensure future outcomes. We are not registered with SEBI. Investments in IPOs and the securities market involve inherent risks, and individuals should carefully evaluate their financial situation or consult a certified financial advisor before investing.
