Hi-Green Carbon IPO

Hi-Green Carbon IPO will open for subscription from 21 September 2023. The company aims for an issue size of ₹52.80 Cr through this IPO.

Company Overview

Full nameHi-Green Carbon Limited
IndustryCarbon black
Company Websitehttp://www.higreencarbon.com/

About Company

Incorporated in 2011, Hi-Green Carbon is engaged in the business of waste tyres recycling. The company’s manufacturing plant is located in Rajasthan. The plant operates on a continuous pyrolysis process. It is an uninterrupted working method with a continuous feeding and discharging system controlled by the program logic controller system. The process is fully automatic and requires almost no human intervention. The plant is installed with a capacity of recycling 100 MT of waste tyres per day, and Sodium silicates 60 MT per day.

The company’s major products are Recovered Carbon Black (rCB) and Steel Wires under the Raw Material Category, Fuel Oil, and Synthesis Gas under the Energy Components category. Synthesis Gas is further used in manufacturing sodium silicate commonly known as raw glass. The company is proposing a new manufacturing plant in the Dhule district of Maharashtra, with the capacity of recycling 100 MT waste tyres per day, spanning 21,500 sq. meters. As of 31 March 2023, the company has 32 employees including on-roll labor.

The Objectives of the Issue

  • Setting up of new Manufacturing Unit at Maharashtra.
  • To Meet Working Capital Requirements.
  • General Corporate Purpose.
  • To meet Public Issue Expenses.

IPO Timetable

IPO Opening date21 September 2023
IPO Closing25 September 2023
Basis of Allotment28 September 2023
Initiation Refund29 September 2023
Credit to Demat Account03 October 2023
Listing Date04 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 25, 2023)

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹52.80 Cr – 7,040,000 shares
Fresh Issue₹44.93 Cr – 5,990,000 shares
Offer for sale₹7.88 Cr – 1,050,000 shares
Face value₹10 per share
Price Band ₹71 to ₹75 per share
Lot size1600 Shares
Market Maker portion420,800 shares
Shareholding pre-issue19,000,000
Shareholding post-issue24,990,000
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)11600₹120,000
Retail (Max)11600₹120,000
HNI (Min)23,200₹240,000

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2021FY 2022FY 2023
Net income0.103.6810.85
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio12.43 – 13.14
RONW (%)1.1931.3448.02
ROCE (%)3.2827.9764.70
EBITDA (%)14.6717.3225.39

Company Promoters

  • M/S RNG Finlease Private Limited
  • Mr. Amitkumar Hasmukhrai Bhalodi
  • Dr. Shaileshkumar Vallabhdas Makadia
  • Mrs. Krupa Chetankumar Dethariya
  • Mrs. Radhika Amitkumar Bhalodi
  • Mrs. Shriyakumari Shaileshkumar Makadia
  • Mr. Koosh Chetankumar Dethariya

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding71.83%

Lead Manager(s)

B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054
Phone: +91-79-48405357, 48406357
Email: mb@beelinemb.com
Website: www.beelinemb.com

IPO Registrar

C-101, 247 Park, 1st Floor, L.B.S. Marg,
Vikhroli West, Mumbai, 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: higreencarbon.ipo@linkintime.co.in
Website: www.linkintime.com

Contact Details

G-557, Lodhika Industrial Estate, Metoda G.I.D.C.
Gate No. 3, Metoda, Lodhika Rajkot- 36002, Gujarat
Phone: +91 92275 74010
E-mail: compliance@higreencarbon.com
Website: www.higreencarbon.com

Allotment Status

Hi-Green Carbon IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.

Final thoughts

Hi-Green Carbon IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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