Harikanta Overseas Summary
Flexible packaging products market in India will see an exponential rise owing to increasing demand in the sectors of food processing, pharmaceuticals, home care/personal care, greater use of multi-layer barrier packages, and the thrust for local manufacturing within the framework of the 'Make in India' campaign. All these factors could contribute to the growth prospects of Harikanta Overseas since it is geared towards meeting the increasing demands of customized printed multi-layer flexible packaging products from its B2B clients.
Harikanta Overseas Limited produces and trades in printed multilayer flexible packaging material and is located in Gujarat and serves largely the B2B market segment. Its products include plastic film rolls, laminated pouches, woven fabric packages, and polyester-laminated films, which ensure durability, moisture-proofing, and high barrier properties for the packaging of snack items, spices, cereals, drugs, detergents, and household goods. It manufactures these products through the laminating and value-added process using the following raw materials: BOPP, CPP, CPE, metallized films, adhesives, and special inks in its facility located in Himatnagar, Sabarkantha, Gujarat.
Harikanta Overseas Limited intends to launch BSE SME IPO of 70,70,000 equity shares with a face value of ₹10 per share, amounting to a total issue size of ₹35.33 Cr at a price range of ₹47–₹50 per share; this includes the fresh issue of shares and 3,54,000 shares offered for the market maker. The IPO opens on 20th May 2026 and closes on 22nd May 2026, with tentative allotment on 25th May 2026 and listing on BSE SME on 27th May 2026.
Harikanta Overseas IPO Details:
Harikanta Overseas Limited Issue Management:
Interactive Financial Services Ltd. acts as the book-running lead manager for Harikanta Overseas BSE SME IPO, managing underwriting and compliance.
Harikanta Overseas Limited IPO RTA (Registrar) Details:
Bigshare Services Pvt.Ltd. handles allotment, refunds, and demat credits - contact at 91-22-6263 8200 or ipo@bigshareonline.com.
Harikanta Overseas Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Bigshare Services Pvt.Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Harikanta Overseas Limited SME IPO totals ₹25.68 Cr, entirely a fresh issue of 26,75,000 equity shares (FV ₹10). No Offer for Sale.
Harikanta Overseas Limited IPO proceeds from the fresh issue of ₹25.68 Cr will be deployed towards:
Harikanta Overseas Limited BSE SME IPO offers 26,75,000 shares (net issue ₹25.68 Cr).
The anchor bidding for Harikanta Overseas Limited SME IPO is scheduled for 19th May 2026, one working day before the issue opens on 20th May 2026, and anchor investors will be allotted shares from the QIB portion. As per the IPO reservation details, the QIB portion is not more than 50% of the net issue size of 26,75,000 shares.
Lock-in: The anchor allocation follows standard SME IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 27th May 2026 on BSE SME.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Interactive Financial Services Ltd. is the book running lead manager to the issue, and the registrar for the IPO is Bigshare Services Pvt. Ltd.
As per the data provided in the DRHP, Harikanta Overseas Limited demonstrates a profitable track record in recent times owing to its business model of producing synthetic textile fabrics (Ikat, polyester garment fabrics, saree fabrics, dhupion, poly linen, and natural fiber fabrics) for women's clothing such as sarees, dress materials, and kurtas along with men's kurtas. The firm operates in Bahrain, Singapore, Thailand, and domestic markets like Delhi, Bangalore, Maharashtra, Uttar Pradesh, Punjab, and Rajasthan.
The income earned during the periods ending 30 Nov 2025 and 31 Mar 2025 is ₹26.08 Cr and ₹35.20 Cr, with the profit after tax (PAT) being ₹5.09 Cr and ₹4.47 Cr. The PAT Margin is recorded at 31.15% (Nov 2025) and 12.70% (Mar 2025), with EBITDA Margins being 27.97% and 18.92% respectively.
These results are attributed to high-quality products, productive manufacturing processes, product customization, international exports, and a wide range of products from its 953.93 sq. m. Surat plant. The firm intends to invest the IPO proceeds towards factory capital expenditure (₹5.40 Cr), machinery investment (₹9.33 Cr), working capital (₹4.75 Cr), and general corporate activities. The investor needs to consider various risks such as fierce competition in the textiles industry, reliance on exports/domestic market.
Action Links:
To apply for Harikanta Overseas Limited IPO, open a demat account here
Harikanta Overseas Limited IPO Subscription Status: Check live subscription here
Harikanta Overseas Limited IPO GMP Update: Check latest grey market premium here
Harikanta Overseas Key Highlights:
Harikanta Overseas Limited deals with production of artificial textile fabrics such as Ikat fabrics, polyester garments, saree fabrics, dhupion fabric, poly linen, and natural fiber textiles mostly used by women in sarees, dress materials, and kurtas and men in kurtas. It has set up a production unit of 953.93 sq. m. in Surat, Gujarat, exporting to Bahrain, Singapore, and Thailand, and supplies to local areas like Delhi, Bangalore, Karnataka, Maharashtra, Uttar Pradesh, Punjab, and Rajasthan.
Its recent financial results indicate high profit margins: Total Income ₹35.20 Cr (Mar 2025) to ₹26.08 Cr (Nov 2025), Profit After Tax ₹4.47 Cr to ₹5.09 Cr, with Profit Margin After Tax being 12.70% and 31.15%, respectively. Its growth factors include high-quality products, process efficiency, customization, international presence, and diversified products.
Its majority of the income is from repeated customers in textiles, and increased demand for artificial fabrics and export sales will ensure good performance in the future.
Harikanta Overseas Risk Factors:
The risks of Harikanta Overseas Limited IPO are mentioned below:
Competitive business environment within the textiles industry where prices are driven by other organized and regional competitors.
Revenue generated from important domestic and export markets and limited customers.
Large requirements of working capital for inventories/production resources (e.g., polyester, linen yarns).
Exposure to changes in the prices of raw materials used such as polyester, dyes, etc.
Less liquid company due to BSE SME listing after initial public offering.
Early-stage exporting business with 42 staff members as of Aug 2025.
Harikanta Overseas Expert Analysis:
Harikanta Overseas Limited is launching a book-built SME IPO on BSE SME with a fresh issue of 26,75,000 equity shares (₹25.68 Cr at ₹91-96/share). Reservation: QIB (≤50%), NII (≥15%), Retail (≥35%), Market Maker (reserved).
Basic details of the IPO:
Type of IPO: Book-built SME IPO (BSE SME)
Uses of funds: Factory CAPEX (₹5.40 Cr), machinery purchase (₹9.33 Cr), working capital (₹4.75 Cr), general corporate purposes.
Anchor bidding: Anchor bidding 19 May 2026 | Opens 20 May 2026 | Closes 22 May 2026 | Allotment 25 May | Listing 27 May 2026 (BSE SME).
Lead Manager: Interactive Financial Services Ltd. | Registrar: Bigshare Services Pvt. Ltd.
Expert View on the IPO:
Strong recent PAT growth (ROE 56.72%, ROCE 37.56%, Debt/Equity 0.24) positions it well in synthetic textiles amid rising apparel demand. Pre-IPO P/E 15.45x and peers like Swasti Vinayaka (P/E 19.44x) suggest fair valuation. However, watch SME liquidity, sector competition, and export risks.
Should you invest in Harikanta Overseas?
Investors eyeing India's textile/apparel growth (domestic + exports) may consider this SME IPO for high margins and low debt.
Consider investing when:
Seeking exposure to synthetic fabrics/textiles with strong KPIs (PAT margin 31.15%, RoNW 32.41%).
Comfortable with SME risks and nil GMP (bearish sentiment as of 13 May 2026).
Bullish on Surat textile hub and women’s ethnic wear demand.
Do not invest when:
Prefer diversified/large-cap textiles.
Wary of SME volatility/low liquidity.
Concerned about raw material volatility or execution on CAPEX.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Harikanta Overseas Limited IPO, open a demat account here
Harikanta Overseas Limited IPO Subscription Status: Check live subscription here
Harikanta Overseas Limited IPO GMP Update: Check latest grey market premium here
1. What is the Harikanta Overseas Limited IPO open and close date?
Harikanta Overseas Limited IPO opens on 20th May 2026 and closes on 22nd May 2026. The anchor bidding is scheduled for 19th May 2026, one working day before the issue opens.
Track Harikanta Overseas Limited IPO subscription status live here from Finnpick.
2. What is the Harikanta Overseas Limited IPO price band and lot size?
The price band is ₹91–₹96 per share with a face value of ₹10 per share. Minimum lot size is 1,200 shares (2 lots for retail = 2,400 shares, ₹2,30,400 at upper band).
3. What is Harikanta Overseas Limited IPO total size?
The total issue size is ₹25.68 Cr (fresh issue of 26,75,000 equity shares at ₹96 upper band). No Offer for Sale; full proceeds to the company.
4. How to apply for the Harikanta Overseas Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by May 22, 4 PM. Monitor Harikanta Overseas Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Harikanta Overseas Limited IPO Allotment Status?
The allotment date is on May 25th and can be checked on Bigshare Services RTA portal using PAN/DP ID.
6. What is Harikanta Overseas Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of May 13, indicating listing at the price range of ₹96 - check daily updates of Harikanta Overseas Limited IPO GMP trends here and live subscription status here from May 20th opening only on Finnpick.
7. What does Harikanta Overseas Limited specialize in?
Harikanta Overseas specializes in manufacturing synthetic textile fabrics (Ikat, polyester garment/saree fabrics, dhupion, poly linen, natural fibers) for women's sarees/dress materials/kurtas and men's kurtas. Exports to Bahrain/Singapore/Thailand; domestic focus on Delhi/Bangalore/Maharashtra etc.
8. When is the Harikanta Overseas Limited IPO listing date?
The Harikanta Overseas Limited IPO is scheduled to list on BSE SME on May 27, 2026, which is approximately T+1 after the basis of allotment on May 25, 2026.
9. What are the Harikanta Overseas Limited IPO proceeds utilization details?
The IPO proceeds will primarily be utilized towards Factory CAPEX (₹5.40 Cr), machinery (₹9.33 Cr), working capital (₹4.75 Cr), general corporate purposes (balance).
10. Who are the promoters of Harikanta Overseas Limited?
The promoters are Hardik Gotawala, Abhishek Gotawala, and Nilesh Gotawala (holding 96.87% pre-IPO).
11. Should I apply for the Harikanta Overseas IPO?
Suitable for high-risk investors eyeing textile growth (strong PAT margins 12-31%, ROE 56.72%, low debt). Fair P/E (15.45x) but nil GMP signals caution. Avoid being wary of SME liquidity/competition. Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
