Harikanta Overseas IPO

Harikanta Overseas IPO Details

Harikanta Overseas IPO is a 100% book-built issue of 26.75 lakh equity shares worth up to ₹26 Cr, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on September 29, 2025.

The price band of this issue is set at ₹91 to ₹96 per share and the lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor is ₹2,30,400 (2,400 shares). The IPO will be open for subscription from May 20 to 22, 2026, on the BSE SME platform, with a tentative listing date fixed as May 27, 2026.

Harikanta Overseas IPO Date & Timeline

The Harikanta Overseas IPO is officially set to open for subscription on May 20, 2026 and will close on May 22, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 29, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on May 25, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on May 26, 2026. Finally, Harikanta Overseas Ltd.'s shares are tentatively scheduled to list on the stock exchanges on May 27, 2026.

Harikanta Overseas IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Harikanta Overseas IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Harikanta Overseas Ltd. was incorporated on October 22, 2018, in Surat, Gujarat, as a private limited company. To begin with, the public listing procedure, the company transformed into a public limited company on February 22, 2025. The company is engaged in the manufacturing of Synthetic textile fabrics, a diversification of products, including Ikat fabrics, polyester garment fabrics, saree fabrics and so on. With years of operation, the company has established deep roots in the market and strong relations with clients.

The business has deep roots, tracing back to a small manual power loom operation started by the promoters' grandfather. Today, it stands as a specialised textile manufacturer based in the heart of India's textile hub, Surat, even though India’s textile sector is one of the oldest industries in the Indian economy, dating back several centuries.

Operations & Product Range

Harikanta Overseas Ltd. operates in the synthetic textile segment, focusing on the production of a variety of fabrics. Its product portfolio is diverse, including Ikat fabrics, polyester garment fabrics, poly linen and natural fibres. While the company serves both men's and women's wear markets, a substantial portion of its production is dedicated to fabrics for sarees, dress materials and kurtas. Its operational model involves both in-house manufacturing and outsourcing certain processes to its subsidiary, Harikanta Weaving Private Limited, to meet high-volume demand.

Facilities & Capacity

Harikanta Overseas Ltd.’s registered office and primary operational base are located in the Sairam Industrial Estate in Bamroli, Surat. This strategic location in Gujarat provides proximity to raw material suppliers and a strong textile ecosystem. The infrastructure supports a range of production activities from fabric weaving to finishing, which are critical for maintaining the quality of their Ikat and polyester blends.

Brands & Market Presence

Harikanta Overseas Ltd. has established a presence in the domestic textile market by leveraging its multi-generational expertise in fabric manufacturing. The company focuses on quality and customisation, which has allowed it to cater to a broad range of customers in the garment industry.

While it primarily serves the domestic Indian market through its associate concerns, the company has highlighted global reach and export capability as qualitative factors that define its market positioning. It continues to focus on strengthening its identity in the synthetic fabric space through a diverse range of products aimed at the affordable luxury and daily wear segments.

Revenue Streams & Business Model

The primary revenue source for Harikanta Overseas Ltd. is the sale of manufactured textile products. For Q3 FY26, Ikat fabrics were the largest contributor, accounting for ₹25.36 Crore, which represented approximately 73.47% of the total revenue from operations. Other contributors include saree fabrics and polyester garment fabrics.

The business model is centred on a consolidated approach, where the company manages the design and production of synthetic fabrics that are eventually used by garment manufacturers and retailers.

Management & Shareholding

The promoters of Harikanta Overseas Ltd. are Hardik Gotawala, Abhishek Gotawala and Nilesh Gotawala. Before the IPO, the promoters held 96.87% stake of the company, but after the IPO, the promoters' shareholding will continue as the offering includes no OFS but entirely a fresh issue, which invites the public to join.

Board & Key Management

The leadership of Harikanta Overseas Ltd. is led by a team of experts with many years of experience. The Chairman gives strategic direction to the firm, while the daily operations are managed by Hardik Gotawala, the Managing Director, along with Whole-Time Director Abhishek Gotawala. To ensure good governance, the board includes Independent Directors Shreyansh Shah, Sefali Sanghvi and Harshal Agrawal for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.