Harikanta Overseas was incorporated on October 22, 2018. The company manufactures synthetic textile fabrics, offering products such as Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fiber fabrics. Its products primarily cater to women’s wear, especially sarees, along with dress materials, kurtas, and select men’s ethnic wear applications
| Bidding Dates |
|---|
| 20 May 2026 - 27 May 2026 |
| Subscription |
|---|
| 1.11x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,06,400 | 2 | 2 | 1200 | 2.7 M | ₹86 - ₹91 | 70.66 % | ₹229.6 M - ₹243.0 M | RHP DOC |
Harikanta Overseas IPO SUBSCRIPTION STATUS
27 May '26Harikanta Overseas IPO overall subscription rate was 1.11 times the total available shares
Harikanta Overseas IPO retail subscription rate was 0.87 times in the retail segment
Harikanta Overseas IPO non-institutional investor subscription rate was 2.49 times in the non-institutional investor category
Harikanta Overseas IPO Qualified Institutional Bidder subscription rate was 0.86 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 May 2026 (Day 6) | 0.87x | 2.49x | 0.86x |
26 May 2026 (Day 5) | 0.53x | 1.68x | 0.45x |
25 May 2026 (Day 4) | 0.46x | 1.16x | 0.45x |
22 May 2026 (Day 3) | 0.42x | 0.91x | 0.04x |
21 May 2026 (Day 2) | 0.12x | 0.36x | 0.04x |
20 May 2026 (Day 1) | 0.07x | 0.34x | 0.04x |
Harikanta Overseas FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 8MFY26 | 26.1 | 5.1 | -0.1 | -1.0 | 28.0% |
| FY25 | 35.2 | 4.5 | -0.4 | -6.6 | 18.9% |
| FY24 | 11.1 | 0.8 | 0.7 | 0.7 | 11.3% |
| FY23 | 14.9 | 0.3 | 1.9 | 0.5 | 3.2% |
| Note: FY23 & FY24 financials are standalone basis | |||||
Harikanta Overseas IPO SUBSCRIPTION STATUS DETAILS
Harikanta Overseas had 2.7 M shares on offer
Harikanta Overseas IPO offer price was in the range ₹86 - ₹91
Harikanta Overseas IPO minimum Investment was ₹206400
Harikanta Overseas IPO issue size was ₹ 229.6 M - ₹ 243.0 M
Harikanta Overseas had a minimum lot size of 1200 Shares per application
Harikanta Overseas NUMBER OF SHARES ON OFFER
Harikanta Overseas IPO IMPORTANT DATES
| Issue Open Date | 20 May 2026 |
| Issue close Date | 27 May 2026 |
| Allotment Date | 29 May 2026 |
| Refund Date | 01 Jun 2026 |
| Demat Account Credit Date | 01 Jun 2026 |
| Listing Date | 02 Jun 2026 |
| Listing on Exchange(s) | BSE |
| Harikanta Overseas Allotment Status | Exchange/ Registrar |
Harikanta Overseas IPO subscription opened on 20 May 2026, and closed on 27 May 2026
IPO allotment for Harikanta Overseas was finalized on Friday, 29 May 2026
IPO listing for Harikanta Overseas was on BSE on Tuesday, 02 Jun 2026
Harikanta Overseas IPO LISTING GAINS
| Issue Price (adjusted) | 91.0 |
| Listing Open Price | 79.8 |
| Listing Close Price | 75.8 |
| Listing Gain% | -12.4% |
| Current Gain% | -23.1% |
Harikanta Overseas 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Harikanta Overseas Ltd. | 70 | 69.1 | 9.7 | 0.2 | 1.5 | 34.1 | 20.6 | 46.7 | 31.6 | 7.1 | 59.7 | 7.2 | 59.7 |
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Harikanta Overseas INFORMATION ON IPO ISSUE
About Harikanta Overseas
Harikanta Overseas was incorporated on October 22, 2018. The company manufactures synthetic textile fabrics, offering products such as Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fiber fabrics. Its products primarily cater to women’s wear, especially sarees, along with dress materials, kurtas, and select men’s ethnic wear applications
Object of the Issue
- Capital expenditure for factory premises
- Capital expenditure for purchase of machineries
- Working capital requirement
- General corporate purposes
Harikanta Overseas - PROMOTERS
| Name |
|---|
| Hardik Gotawala |
| Abhishek Gotawala |
| Nilesh Gotawala |
Harikanta Overseas - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Hardik Gotawala | Managing Director |
| Nilesh Gotawala | Whole-time Director |
| Abhishek Gotawala | Whole-time Director |
| Shreyansh Shah | Independent Director |
| Sefali Sanghvi | Independent Director |
| Harshal Agrawal | Independent Director |
Harikanta Overseas Book Running Lead Manager
Interactive Financial Services Limited
mbd@ifinservices.in
Harikanta Overseas Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Harikanta Overseas Strengths
Quality
The company’s strong focus on delivering high-quality fabrics supports customer loyalty, strengthens its market position, and drives revenue growth. Consistent product quality also enables competitive pricing and improved profitability, supporting long-term sustainable growth
Efficient production process
The company’s integrated production processes cover all stages from raw material procurement to finished fabric manufacturing, ensuring efficient operations and timely delivery. Strong workflow management and quality control help maintain product consistency, support customer retention, and enhance profitability
Customization & flexibility
The company’s ability to offer customized fabrics and flexible production solutions is a key competitive strength that helps meet evolving customer requirements. Its agile manufacturing systems support quick turnarounds, strengthen client relationships, and enable it to serve both large-volume and specialized orders efficiently
Harikanta Overseas Risks
Energy intensive business
The company’s fabric manufacturing operations are highly dependent on continuous power supply, making them vulnerable to energy disruptions and rising power costs. Any prolonged interruption or increase in energy expenses could adversely affect production efficiency, operating margins, and financial performance
Seasonal business
The company’s business is seasonal, with higher demand during festive and wedding periods driving significant fluctuations in revenue and cash flows across different quarters. Lower demand during off-peak periods may lead to reduced sales, under-utilization of manufacturing capacity, and lower profitability
International operations & forex risk
The company’s international operations expose it to risks such as foreign currency fluctuations, changing trade regulations, and varying economic conditions across export markets. Any adverse movement in exchange rates or international business conditions could impact its revenues, profitability, and cash flows
IPO FAQs
The promoters of the company are Hardik Gotawala, Abhishek Gotawala and Nilesh Gotawala.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 86.0 - 91.0.
The IPO application opens on May 20, 2026 and closes on May 27, 2026.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 206,400.0, the maximum value for this IPO is Rs 218,400.0.
This IPO will be allotted on May 29, 2026.
The refund will be credited to your account on Jun 01, 2026.
The allotted shares will be credited to your demat on Jun 01, 2026.
Harikanta Overseas Ltd.’s shares listed on the stock exchanges on Jun 02, 2026.