HRH Next Services was incorporated on February 2, 2007. The company is engaged in business process outsourcing (BPO), offering a comprehensive suite of call centre services, covering inbound services, outbound services, backend support, chat support, email support, and more. Its specialty is providing efficient end-to-end solutions to the clients. It customises top-notch solutions to meet specific business needs, helping the clients achieve their objectives.
| Bidding Dates |
|---|
| 27 Dec 2023 - 29 Dec 2023 |
| Subscription |
|---|
| 62x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,08,000 | 1 | 1 | 3000 | 2.7 M | ₹36 | 66.26 % | ₹95.7 M | RHP DOC |
HRH Next Services IPO SUBSCRIPTION STATUS
29 Dec '23HRH Next Services IPO overall subscription rate was 62 times the total available shares
HRH Next Services IPO retail subscription rate was 60.3 times in the retail segment
HRH Next Services IPO non-institutional investor subscription rate was 63.69 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
29 Dec 2023 (Day 3) | 60.3x | 63.69x | - |
28 Dec 2023 (Day 2) | 16.11x | 4.27x | - |
27 Dec 2023 (Day 1) | 4.17x | 1.01x | - |
HRH Next Services FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 15.1 | 213.9 | -18.6 | -23.4 | 17.2% |
| FY23 | 34.8 | 511.4 | 77.2 | 1.6 | 13.4% |
| FY22 | 9.3 | 441.5 | 20.6 | -11.5 | 6.3% |
| FY21 | 2.5 | 241.6 | 22.4 | -4.8 | 6.5% |
HRH Next Services IPO SUBSCRIPTION STATUS DETAILS
HRH Next Services had 2.7 M shares on offer
HRH Next Services IPO offer price was ₹36
HRH Next Services IPO minimum Investment was ₹108000
HRH Next Services IPO issue size was ₹ 95.7 M
HRH Next Services had a minimum lot size of 3000 Shares per application
HRH Next Services NUMBER OF SHARES ON OFFER
HRH Next Services IPO IMPORTANT DATES
| Issue Open Date | 27 Dec 2023 |
| Issue close Date | 29 Dec 2023 |
| Allotment Date | 01 Jan 2024 |
| Refund Date | 02 Jan 2024 |
| Demat Account Credit Date | 02 Jan 2024 |
| Listing Date | 03 Jan 2024 |
| Listing on Exchange(s) | NSE |
| HRH Next Services Allotment Status | Exchange |
HRH Next Services IPO subscription opened on 27 Dec 2023, and closed on 29 Dec 2023
IPO allotment for HRH Next Services was finalized on Monday, 01 Jan 2024
IPO listing for HRH Next Services was on NSE on Wednesday, 03 Jan 2024
HRH Next Services IPO LISTING GAINS
| Issue Price (adjusted) | 36.0 |
| Listing Open Price | 41.0 |
| Listing Close Price | 43.0 |
| Listing Gain% | 13.9% |
| Current Gain% | -28.8% |
HRH Next Services Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HRH Next Services Ltd. | 25.6 | 23.6 | 7 | 0.9 | 0.3 | 11.7 | 5 | 68.3 | 16.5 | 4.9 | 54.9 | 3.7 | 8 |
| Firstsource Solutions Ltd. | 279.8 | 19518.1 | 29.1 | 4.3 | 1.9 | 15.4 | 7.2 | 9563.8 | 19.9 | 674.4 | 13.5 | 9.6 | 6.8 |
| eClerx Services Ltd. | 1769.1 | 16638.5 | 22.8 | 0.8 | 3.8 | 27.6 | 19.1 | 4218.2 | 22.2 | 706.2 | 30.5 | 77.5 | 27.5 |
| Quess Corp Ltd. | 311 | 4645.8 | 18.4 | 0.2 | 0.3 | 19 | 7.3 | 15321.7 | 2.2 | 221.6 | 383.9 | 16.9 | 96.9 |
| Hinduja Global Solutions Ltd. | 428.4 | 1992.9 | -45.9 | 0.7 | 0.5 | 0.4 | 0.3 | 4857 | -2.1 | 32.2 | -73.5 | -9.3 | -62.7 |
| One Point One Solutions Ltd. | 60.3 | 1587.5 | 33.3 | 0.8 | 5.1 | 8.6 | 4.6 | 331 | 22.5 | 38.3 | 15.4 | 1.8 | 43.9 |
HRH Next Services INFORMATION ON IPO ISSUE
About HRH Next Services
HRH Next Services was incorporated on February 2, 2007. The company is engaged in business process outsourcing (BPO), offering a comprehensive suite of call centre services, covering inbound services, outbound services, backend support, chat support, email support, and more. Its specialty is providing efficient end-to-end solutions to the clients. It customises top-notch solutions to meet specific business needs, helping the clients achieve their objectives.
Object of the Issue
- Expansion of the services by launching two call centres
- Capital expenditure towards the purchase of computer systems
- To meet working capital requirements
- To meet issue expenses
- General corporate purposes
HRH Next Services - PROMOTERS
| Name |
|---|
| Ankit Sanjay Shah |
| Parikshit Pankaj Shah |
| Tara Sanjay Shah |
HRH Next Services Lead Manager of the Issue
Finshore Management Services Limited
info@finshoregroup.com
HRH Next Services Registrar to the issue
Cameo Corporate Services Limited
ipo@cameoindia.com
HRH Next Services Strengths
Quality assurance
The company is an ISO 9001:2015 and ISO 27001:2013 certified entity. It is committed to designing processes based on customer insights, team wisdom, and continuous improvement
Excellent Infrastructure
The company has invested in hardware and software of the highest quality. Multiple redundancies are in place to ensure business continuity, irrespective of power disruption or any other issue
HRH Next Services Risks
Dependent on few customers
The top ten clients contribute the majority of the revenue from operations. Any loss of business from one or more of them may adversely affect the revenues and profitability
Intense competition
The company faces intense competition in its businesses, which may limit its growth and prospects. The markets for the services continue to evolve and are highly competitive
IPO FAQs
The promoters of the company are Ankit Sanjay Shah, Parikshit Pankaj Shah and Tara Sanjay Shah.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 36.0 - 36.0.
The IPO application opens on Dec 27, 2023 and closes on Dec 29, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 108,000.0, the maximum value for this IPO is Rs 108,000.0.
This IPO will be allotted on Jan 01, 2024.
The refund will be credited to your account on Jan 02, 2024.
The allotted shares will be credited to your demat on Jan 02, 2024.
HRH Next Services Ltd.’s shares listed on the stock exchanges on Jan 03, 2024.