Hi-Green Carbon Limited IPO : Key Information

Hi-Green Carbon Limited IPO is set to launch on 21 September, 2023. The company initiated its business operations in the year 2011. It basically recycles the waste tyres. The manufacturing facility of the company is located in Rajasthan. The facility works on a unique pyrolysis process. The system installed is fully automated and can recycle 100 MT waste tyres per day. The profit portfolio of the firm ranges from fuel and synthesis Gas in Energy and Steel wires and Recovered black carbon in raw material. The new facility will be manufactured in Maharashtra with the capacity of 100 MT per day across 21500 sq feet. 

Hi-Green Carbon Limited IPO DETAILS

Hi-Green Carbon Limited IPO is set to launch on 21 September, 2023. The subscription timeline extends till 25 September, 2023. The size for the IPO is 52.80 Crore Rs. Shares issued through fresh issue mode are worth 44.93 Crore Rs. Shares issued through offer for sale mode are worth Rs 7.88 Crore Rs. The lot size is 1600 shares and the price is 71 Rs to 75 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.

Tabular Description of Hi-Green Carbon Limited IPO 

Hi-Green Carbon Limited IPO : IMPORTANT DATES

Hi-Green Carbon Limited IPO begins for subscription from 21 September, 2023. The IPO subscription would continue till 25 September, 2023. The allotment status for the shareholders who applied would come on 28 September, 2023. The refunds for the ones who did not get allotment would be initiated on 29 September, 2023. The DEMAT accounts of shareholders would be credited on 3 October, 2023. The listing of the company would be completed on 4 October, 2023.

Hi-Green Carbon Limited IPO : Lead Managers

The lead managers are :

• Beeline Capital Advisors Private Limited

The minimum lot size for the company is decided at 1600 shares. This holding accounts to 120000 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 240000 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.
• The funds will also be used for expansion purposes.
• The money will also be used for expansion purposes of factory manufacturing in Maharashtra.

COMPANY FINANCIALS

Hi-Green Carbon Limited had an asset base of 3310 Lakh Rs in the year 2021. This increased to 3424 Lakh Rs in 2022 and 4387 Lakh Rs in the year 2023. The revenue of the firm was 2429 lakh Rs in 2021, 5113 Lakh Rs in 2022 and 7903 Lakh Rs in 2023. The profit of the firm was 9 Lakh Rs in 2021, 367 Lakh Rs in 2022 and 1084 Lakh Rs in 2023.

PROS

• The manufacturing facility of the company is located in Rajasthan. The facility works on a unique pyrolysis process. The system installed is fully automated and can recycle 100 MT waste tyres per day. 
• The product portfolio of the firm ranges from fuel and synthesis Gas in Energy and Steel wires and Recovered black carbon in raw material. The new facility will be manufactured in Maharashtra with the capacity of 100 MT per day across 21500 sq feet. 

CONS

• The company works in a highly competitive segment.

Hi-Green Carbon Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1.   Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2.   Click the Hi-Green Carbon Limited IPO button and press the BID button.
3.   Entering the details asked for like UPI ID, Quantity and price.
4.   Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.