Harikanta Overseas IPO
Harikanta Overseas LtdSME
This IPO has listed.
- Open date
- 20 May 2026
- Close date
- 27 May 2026
- Min. Investment
- ₹2,18,400
- Lot Size
- -
- Fresh Issue
- ₹24.30 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers21.33x
- Non-Institutional Investors0.73x
- Retail-Individual Investors0.66x
- Total1.11x
Schedule
- Completed: IPO open date20 May 2026
- Completed: IPO close date27 May 2026
- Completed: Allotment date29 May 2026
- Completed: Funds unblock or debit1 Jun 2026
- Completed: Tentative listing date2 Jun 2026
About
Promoter shareholding in Harikanta Overseas Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Hardik Gotawala | 23,23,580 | 32.29% | 23,23,580 | 23.55% |
| Abhishek Gotawala | 23,23,580 | 32.29% | 23,23,580 | 23.55% |
| Nilesh Gotawala | 23,23,580 | 32.29% | 23,23,580 | 23.55% |
Financials of Harikanta Overseas IPO
| Key Performance Indicators | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating Revenue | - | - |
| Other Income | - | - |
| Total Income | 35.17 | 46.08 |
| Total Expenses | 29.34 | 37.43 |
| Profit Before Tax | - | - |
| Total Profit | 4.42 | 7.14 |
Harikanta Overseas IPO Strengths & Risks
- Quality Products.
- Efficient Production Process.
- Customization and Flexibility.
- Global Reach and Export Capability.
- Range of Products.
- Location of Facility.
- Promoter and Management Involvement.
- Risks Relating to the Business: The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed, purchase of equipment / machineries. In the event of any delay in placing the orders for Machineries or in the event the vendors is not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- Risks Relating to the Business: The company business is significantly dependent on yarn and other related raw materials, and fluctuations in their prices or availability, as well as concentration of its supplier base, may adversely affect the company operations, margins, and profitability.
- Risks Relating to the Business: The company operations is energy-intensive and any disruption in power supply or increase in energy costs may adversely affect its business and financial performance.
- Risks Relating to the Business: Potential Exposure to Competition Despite Non-Compete Agreements with Promoter Group Entities
- Risks Relating to the Business: Potential Conflicts of Interest Arising from Promoters' Proprietary Businesses and Their Operational Overlap with the Company.
- Risks Relating to the Business: The company business is working capital intensive and any inability to secure adequate financing may adversely impact operations.
- Risks Relating to the Business: Dependence on third-party and subsidiary job work arrangements.
- Risks Relating to the Business: The company has experienced negative cash flows in previous years / periods. Any operating losses or negative cash flow in the future could adversely affect its results of operations and financial condition.
- Risks Relating to the Business: There may has been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties.
- Risks Relating to the Business: The company business is seasonal in nature, which could adversely affect its business operations and financial performance.
- Risks Relating to the Business: The Company is subject to inspections and approvals from the Gujarat Pollution Control Board (GPCB), and any non-compliance may adversely affect its operations and reputation.
- Risks Relating to the Business: The Company failed to modify charges with the Registrar of Companies after repayment of certain borrowings, and while the company has filed a compounding application, any adverse outcome may has an impact on its business and compliance status.
- Risks Relating to the Business: There has been instances of delay in filing of Provident Fund (PF) returns, Goods and Service Tax returns (GST) and return of Tax Deducted at Source (TDS) dues.
- Risks Relating to the Business: The company has certain contingent liabilities, and if they materialize, its financial condition and results of operations may be adversely affected.
- Risks Relating to the Business: Any of new products are launched by the company may not be successful as per its expectations, the company business, cash flows, results of operations and financial condition may be adversely affected.
- Risks Relating to the Business: The company has not entered into long-term contracts with its major customers and the company operates on the basis of purchase orders, which could adversely affect its revenues and profitability.
- Risks Relating to the Business: The company business is dependent on the continued operation of its manufacturing facility and any loss of or shutdown of the company manufacturing unit on any grounds could adversely affect its business or results of operations.
- Risks Relating to the Business: The company business growth has been fueled by continuous technological advancements, and it forms an integral part of its business. Any failure of the company information technology systems may paralysis its ability to compete effectively in the market, which may result in lower revenue, higher costs and would adversely affect the company business and results of operations.
- Risks Relating to the Business: A shortage or non-availability of electricity may adversely affect its manufacturing operations and have an adverse effect on the company business, results of operations and financial condition.
- Risks Relating to the Business: The company is subject to any frauds, theft, or embezzlement by its employees, suppliers, contractors or distributors, it could adversely affect the company reputation, results of operations, financial condition and cash flows.
- Risks Relating to the Business: India has stringent labour legislations that protect the interests of workers, and if the company employees unionize, its may be subject to industrial unrest, slowdowns and increased wage costs.
- Risks Relating to the Business: The company international operations is subject to many uncertainties, and the company is exposed to foreign currency exchange rate fluctuations.
- Risks Relating to the Business: Although the company is not directly exposed to foreign exchange fluctuations, its export business conducted through merchant exporters and direct exports may be indirectly impacted by currency volatility, which could affect the company volumes and profitability.
- Risks Relating to the Business: The company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.
- Risks Relating to the Business: The company is dependent on third party transportation service providers for delivery of raw materials from suppliers to its and delivery of finished products to the company customers and business associates. Any failures on part of such transport service providers to meet their obligations could have a material adverse effect on the company business, financial condition and results of operation.
- Risks Relating to the Business: The company revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company insurance coverage may not be sufficient or adequate to protect its against all material hazards, which may adversely affect the company business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The requirements of being a public listed company may strain the company resources and impose additional requirements.
- Risks Relating to the Business: The company Registered office and factory premises are on lease basis.
- Risks Relating to the Business: The Company has availed credit facilities that are subject to restrictive covenants, which may limit its flexibility and adversely affect the company business operations.
- Risks Relating to the Business: The Company, its Promoters, its directors and its group Companies is involved in litigation proceedings that may have a material adverse outcome.
- Risks Relating to the Business: The company Promoters/Directors have issued personal guarantees and/or mortgaged their property in relation to debt facilities availed by its, which if revoked, may requires alternative guarantees, repayment of amounts due or termination of the facilities.
- Risks Relating to the Business: Risk of Order Cancellations or Delayed Payments from Buyers.
- Risks Relating to the Business: The company Promoter and members of the Promoter Group will continue jointly to retain majority control over its Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Risks Relating to the Business: The company is required to obtain, renew or maintain statutory and regulatory permits, licenses and approvals to operates its business and the company manufacturing facility, and any delay or inability in obtaining, renewing or maintaining such permits, licenses and approvals could result in an adverse effect on its results of operations.
- Risks Relating to the Business: The Trademark of is registered in the name of Mr. Nilesh Gotawala i.e. Director of the Company. Form TMP for request of Subsequent proprietor by way of assignment or transfer of Trademark in name of Harikanta Overseas Private Limited has been filed by the Company.
- Risks Relating to the Business: The company is dependent upon the experience and skill of its promoter, management team and key managerial personnel and senior management personnel. Loss of its Promoter or the company inability to attract or retain such qualified personnel, could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company may not be able to successfully manage the growth of its operations and execute the company growth strategies which may have an adverse effect on its business, financial condition, results of operations and future prospects.
- Risks Relating to the Business: The company operates in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures may adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by the company Promoters is lower than the Issue Price, which may result in perceived disparity for investors.
- Risks Relating to the Business: The company Promoters, Directors and Key Managerial Personnel may have interest in its Company, other than reimbursement of expenses incurred or remuneration.
- Risks Relating to the Business: The company has entered into certain transactions with related parties. These transactions or any future transactions with its related parties could potentially involve conflicts of interest.
- Risks Relating to the Business: The company has not identified any alternate source of financing the `Objects of the Issue'. If its fail to mobilize resources as per the company plans, its growth plans may be affected.
- Risks Relating to the Business: The company ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Risks Relating to the Business: Delay in raising funds from the IPO could adversely impact the implementation schedule.
- Risks Relating to the Business: The company has not independently verified certain data in this Red Herring Prospectus.
- Risks Relating to the Business: The company funding requirements and proposed deployment of the Net Proceeds are based on management estimates and has not been independently appraised and may be subject to change based on various factors, some of which are beyond its control.
- Risks Relating to the Business: Any future issuance of Equity Shares may dilute the shareholding of the Investor or any sale of Equity Shares by the company Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: The issue price of the Equity Shares may not be indicative of market price of the company equity shares after the issue and the market price of its Equity shares may decline below the issue price.
- Risks Relating to the Business: Sale of shares by the company promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: The company future funds requirements, in the form of fresh issue of capital or securities and/or loans taken by its, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner or at all.
- Risks Relating to the Business: The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- Risks Relating to the Business: There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.
