Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
IPO News

| More

Hi-Green Carbon IPO to open on 21st September; Announces a Price Band of Rs. 71-75 per equity share

Posted On: 2023-09-14 18:09:19 (Time Zone: IST)

Hi-Green Carbon Ltd, the flagship company of Rajkot-based Radhe Group of Energy, today announced a price band of Rs. 71-75 per equity share for its upcoming IPO to be listed on NSE Emerge. The company's IPO will open on Thursday, 21st September 2023, and close on Monday, 25th September 2023. The Anchor portion will open on Wednesday, 20th September 2023.

The company will offer 70.40 lakh equity shares (face value of Rs 10/- each) through the book-building route - comprising a fresh issue of 59.90 lakh equity shares and an offer for sale of 10.50 lakh equity shares. The Anchor portion will comprise 19.84 lakh equity shares, while the Market maker will account for 4.21 lakh equity shares. The NIIs, QIBs and Retail portions will account for 9.94 lakh, 33.07 lakh and 23.17 lakh equity shares, respectively. The lot size will be 1600 shares. The pre-IPO shareholding of the Promoter and Promotor Group stands at 100%, which will reduce to 71.83% post-issue.

Beeline Capital Advisors Private Limited is the book-running lead manager to the offer, and Link Intime India Private Limited will be the registrar to the offer. The shares of the company will be listed on NSE Emerge.

Hi-Green Carbon is engaged in the business of waste tyre recycling. It follows continuous pyrolysis to process the end-of-life tyres (ELTs) pieces to produce energy components and raw materials. Its major products include Recovered Carbon Black (rCB) and Steel Wires under the Raw Material Category, Fuel Oil and Synthesis Gas under the energy components category. Being highly energy efficient, the company uses the said synthesis gas, produced as a by-product of the pyrolysis process, for manufacturing sodium silicate, commonly known as raw glass. The company has a 100 TPD Modern, integrated and fully automated manufacturing facility spread over 56,500 sq. mtrs in Bhilwara, Rajasthan. The company filed its DRHP in July 2023.

For the year ended March 31st, 2023, Hi-Green Carbon reported a total revenue of Rs. 79.03 crore compared to Rs. 51.13 crore for the year ended March 2022. Net profit stood at Rs. 10.49 crore for the year ended March 31, 2023, compared to Rs. 3.68 crore for the year ended March 31, 2022.

The company will utilise the proceeds of the initial public offering to set up a new facility in the Dhule district of Maharashtra, with a recycling capacity of 100 MT waste tyres per day. The company has already acquired land admeasuring 21,500 sq. meters for the project. Apart from setting up a new project, the proceeds of the fresh issue of shares will be utilised for working capital requirements and other general corporate purposes.

Hi-Green Carbon Limited is a part of Radhe Group Energy, based in Rajkot, Gujarat, and was initially promoted by Amitkumar Hasmukhrai Bhalodi and Dr Shaileshbhai Makadia family in 2011.

Click here to send ur comments or to

Other Headlines:

Bharat Highways InvIT IPO subscribed 0.37 times on Day 1

Platinum Industries IPO subscribed 22.22 times on Day 2

Mumbai-based Garuda Construction and Engineering files DRHP for IPO

Bharat Highways InvIT raises Rs. 825.97 Crore from Anchor Investors

Platinum Rush : Retail and NII Investors make hurry, Issue subscribed 8.06 times on Day 1

Platinum Industries Limited raises Rs. 70.59 crore from Anchor Investors

GPT Healthcare IPO subscribed 8.52 times on Final Day

Mukka Proteins Limited IPO to open on Thursday February 29, 2024

Retail Portion of GPT Healthcare IPO fully subscribed on Day 2

Juniper Hotels IPO subscribed 2.07 times on Final Day

Backed by marquee investors, Trust Fintech eyes listing in March 2024 on NSE Emerge

Retail Portion of GPT Healthcare IPO subscribed 66% on Day 1

Retail Portion of Juniper Hotels IPO subscribed 87% on Day 2

Bharat Highways InvIT's IPO of its units to open on Wednesday, February 28, 2024, price band set at ?98 to ?100 per Unit

GPT Healthcare Limited raises Rs. 157.54 crore from Anchor Investors

Juniper Hotels IPO Retail Portion subscribed 52% on Day 1

IT Solutions provider Orient Technologies files DRHP for IPO

Juniper Hotels Limited raises Rs. 810 crore from Anchor Investors

IPO of GPT Healthcare Limited to open on Thursday, February 22, 2024, price band set at ?177/- to ?186/- per Equity Share

Gala Precision Engineering files DRHP for IPO

Vibhor Steel Tubes IPO subscribed 320 times with bids worth Rs. 16,211 crore

IPO of Juniper Hotels Limited to open on Wednesday, February 21, 2024, price band set at ?342 to ?360 per equity share

Gopal Snacks Limited gets Sebi nod for Rs 650 crore IPO

Vibhor Steel Tubes IPO gets subscribed within 30 minutes of opening

Trust Fintech Limited, SaaS product-focused fintech software solution provider, files DRHP

Interiors and More Limited IPO to open for subscription on Feb 15, 2024

Rashi Peripherals IPO subscribed 59.71 times on Final Day

Rashi Peripherals IPO subscribed 3.19 times on Day 2

Rashi Peripherals IPO fully subscribed on Day 1 led by NII and Retail

Juniper Hotels gets Sebi nod for its Rs 1,800 crore IPO

Rashi Peripherals Limited raises Rs. 180 crore from Anchor Investors

IPO of Rashi Peripherals Ltd to open on Wednesday 7 February, 2024, price band set at ?295 to ?311 per Equity Share

KP Green Engineering Limited files DRHP for SME IPO

Nova Agritech IPO subscribed 109.36 times on Final Day

Fonebox Retail Limited anchor book fully subscribed

Nova Agritech IPO subscribed 33.87 times on Day 2

TCS Ranks No. 1 in Customer Satisfaction in France for 5th year

Nova Agritech IPO subscribed 9.75 times on Day 1 led by Retail and NII

Nova Agritech Limited raises ? 43.14 crore from Anchor Investors

IT Solutions major, Rashi Peripherals raised Rs 150 crore in Pre-IPO round

Fonebox Retail IPO date has been set, with the IPO opening on January 24

Nova Agritech Limited's IPO to open on Monday January 22, 2024

Medi Assist Healthcare Services Ltd IPO opens for subscription on Monday - Jan 15, 2024

Konstelec Engineers Limited plans to raise around 25 crores through an IPO, aiming to be listed on NSE Emerge this January

Payment Platform MobiKwik refiles DRHP with SEBI for Rs 700 crore IPO

Jyoti CNC Automation Limited's IPO to open on January 09, 2024

Gretex Share Broking files papers for IPO

Diffusion Engineers files DRHP with SEBI for IPO

Rays Power Infra files DRHP for IPO files DRHP for IPO

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020