IPO Details

Bidding Dates

21 Sep '23 - 25 Sep '23

Minimum Investment

₹120,000 / 1 Lots ( 1600 Shares )

Price Range

₹71 - ₹75

Maximum Investment

₹120,000 / 1 Lots ( 1600 Shares )

Retail Discount

Not Applicable

Issue Size

₹52.80 Cr

Investor category and sub category

Qualified Institutions Buyers  |   Non-Institutional Buyers  |   Retail Investors   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Sep 21, 2023

IPO Close Date

Sep 25, 2023

Basis of Allotment

Sep 28, 2023

Initiation of Refunds

Sep 29, 2023

Credit of Shares to Demat

Oct 3, 2023

IPO Listing Date

Oct 4, 2023

UPI mandate confirmation

Sep 25, 2023

Hi-Green Carbon IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 21, 2023

 7.92 3.52 11.30 8.67

Day 2Sep 22, 2023

 10.86 19.00 36.56 25.46

Day 3Sep 25, 2023

 69.95 236.76 196.35 168.92

Hi-Green Carbon IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions Buyers 69.95
Non-Institutional Buyers 236.76
Retail Investors 196.35
Total 168.92

About Hi-Green Carbon Limited

Organic Recycling Systems Limited was incorporated in 2008. It is an engineering company offering sustainable waste management solutions. The company generates revenue via three business verticals, including the Build Own Operate Transfer (BOOT) model, the Engineering Procurement and Commissioning (EPC) model and the supply of key equipment. 

In addition, the services offered by the company revolve around EPC (Engineering, Procurement, and Construction) services in waste management, commissioning services, consulting and advisory services in the waste management sector, planning, building, and managing waste management projects, laboratory services and more.

The dry waste recycling possesses the potential to generate ~₹11,836 crores per annum, as per the analysis by the Ministry of Housing and Urban Affairs (MoHUA). The company has significant exposure toward solid waste management (SWM), where the government is showcasing ample interest with the launch of schemes like SWM Rules 2016, Biomedical Waste Management Rules 2016, Plastic Waste Management 2016, etc. This will likely open the gate for business growth in solid waste management over the long term. 

Organic Recycling Systems Limited IPO Details

Organic Recycling Systems Limited IPO Date

Organic Recycling Systems Limited IPO is a 100% fresh issue IPO of ₹50.00 Cr aggregating up to 25,00,200 shares. Organic Recycling Systems Limited’s IPO will be listed on the BSE SME and NSE exchanges on October 05, 2023.

Organic Recycling Systems Limited IPO Price Band

The price of the IPO has been fixed at ₹200 per share.

Organic Recycling Systems Limited IPO Lot Size

The Organic Recycling Systems Limited IPO lot size is 600 shares, and the minimum investment will be ₹1,20,000.

Organic Recycling Systems Limited IPO Objectives 

The objectives of Organic Recycling Systems Limited IPO are listed below:

  • For repayment of debt.
  • For general corporate purposes and issue expenses.

Peer Details

As per DRHP, there are no listed companies in India that are involved in a similar business to that of Hi-Green Carbon.

How To Check the Hi-Green Carbon Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.

Open a demat account with Angel One to apply for the Hi-Green Carbon Limited IPO.

Contact Details of Hi-Green Carbon Limited IPO

  • Registered office: G-557, Lodhika Industrial Estate, Metoda, G.I.D.C. Gate No. 3, Metoda, Lodhika Rajkot - 360021, Gujarat, India.
  • Phone: +919227574010
  • E-mail:compliance@higreencarbon.com

Hi-Green Carbon Ltd. Company Financials

Financial year FY23 (₹ in lakh) FY22 (₹ in lakh) FY21 (₹ in lakh)
Revenue from operations 7,852.41 5,110.69 2,427.09
Profit After Tax 1,084.78 367.95 9.59
Net Worth 2,259.02 1,174.23 806.28
Earnings Per Share 5.71 1.94 0.05
Total Borrowings 1,362.19 1,586.70 1,783.10

Know before investing

Strengths

2

  1. The company's manufacturing plant is strategically connected to national highways, offering logistical advantages for cost-effective transportation of materials and products. Their manufactured fuel oil is supplied to nearby ceramic, cement, and textile manufacturing units, providing them with a ready market.

  2. The company's manufacturing plant uses a continuous pyrolysis process, which is entirely automatic and requires minimal human involvement.

Risks

2

  1. The company depends on certain customers for their sales. The top 10 customers contributed about 63.87%, 57.91% and 53.63% of the sales in FY 2023, FY 2022 and FY 2021, respectively. Losing these customers can affect the revenue of the company.

  2. The revenue of the company is dependent on the Rajasthan manufacturing unit. Any adverse happenings in the manufacturing unit's operation can impact the company's revenue.

  • How to Apply in IPO
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Hi-Green Carbon IPO FAQs

What is Hi-Green Carbon Limited's IPO?

 

The Hi-Green Carbon Ltd IPO contains both a fresh IPO and an offer for sale worth up to ₹52.80 crore. The issue comprises 70,40,000 equity shares and is priced at ₹71 to ₹75 per share. The IPO will open on September 21, 2023.   

When will Hi-Green Carbon Limited's IPO be allotted?

The Basis of Allotment will happen on Thursday, September 28, 2023.

When will Hi-Green Carbon Limited's IPO open for subscription?

The IPO subscription window will open on Thursday, September 21, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 1,600 shares.

When will Hi-Green Carbon Limited list on exchanges?

Hi-Green Carbon Ltd IPO will be listed on the NSE exchange on Wednesday, October 4, 2023.

How do I check the allotment status of the Hi-Green Carbon Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the Hi-Green Carbon Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Wednesday, October 4, 2023, for Hi-Green Carbon Ltd. 

I have finished the application process for the Hi-Green Carbon Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Hi-Green Carbon Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Hi-Green Carbon Limited using one PAN?

You can submit only one application using your PAN card.