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 name | Hi-Green Carbon Limited |
| Sector | Chemicals |
| Industry | Carbon black |
| Company Website | http://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 date | 21 September 2023 |
| IPO Closing | 25 September 2023 |
| Basis of Allotment | 28 September 2023 |
| Initiation Refund | 29 September 2023 |
| Credit to Demat Account | 03 October 2023 |
| Listing Date | 04 October 2023 |
IPO details
| Issue type | Book 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 size | 1600 Shares |
| Market Maker portion | 420,800 shares |
| Shareholding pre-issue | 19,000,000 |
| Shareholding post-issue | 24,990,000 |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 24.27 | 51.11 | 78.52 |
| Expenses | 24.16 | 46.47 | 62.91 |
| Net income | 0.10 | 3.68 | 10.85 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.05 | 1.94 | 5.71 |
| PE ratio | – | – | 12.43 – 13.14 |
| RONW (%) | 1.19 | 31.34 | 48.02 |
| NAV | 4.24 | 6.18 | 11.89 |
| ROCE (%) | 3.28 | 27.97 | 64.70 |
| EBITDA (%) | 14.67 | 17.32 | 25.39 |
| Debt/Equity | 2.21 | 1.35 | 0.60 |
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 Holding | 100% |
| Post Issue Share Holding | 71.83% |
Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
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
LINK INTIME INDIA PRIVATE LIMITED
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
HI-GREEN CARBON LIMITED
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
