Hi Green Carbon Limited, a venture of the Radhe Group of Energy, is making waves in the renewable energy sector with its innovative approach to waste hydrocarbon processing. With a focus on sustainability and reducing greenhouse gas emissions, Hi Green Carbon is leading the way in producing valuable products like Recovered Carbon Black (rCB).
In this article, we will explore the details of Hi-Green Carbon’s upcoming Initial Public Offering (IPO)
Hi Green Carbon IPO Details
| IPO Date | September 21, 2023 to September 25, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 7,040,000 shares (aggregating up to ₹52.80 Cr) |
| Fresh Issue | 5,990,000 shares (aggregating up to ₹44.93 Cr) |
| Offer for Sale | 1,050,000 shares of ₹10 (aggregating up to ₹7.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 19,000,000 |
| Share holding post issue | 24,990,000 |
Hi Green Carbon IPO Dates:
Hi Green Carbon IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Monday, September 25, 2023 |
| Basis of Allotment | Thursday, September 28, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Wednesday, October 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Hi-Green Carbon IPO is a book-built issue of Rs 52.80 crores. The issue consists of a fresh issue of 59.9 lakh shares, aggregating to Rs 44.93 crores, and an offer for sale of 10.5 lakh shares, aggregating to Rs 7.88 crores.
The IPO opens for subscription on September 21, 2023, and closes on September 25, 2023. The allotment for the Hi-Green Carbon IPO is expected to be finalized on Thursday, September 28, 2023. The IPO will list on NSE SME with a tentative listing date fixed as Wednesday, October 4, 2023.
Hi Green Carbon IPO GMP:
| Date | GMP | Kostak | Subject to |
| Today | ₹30 | ₹- | ₹35000 |
| 17 September | ₹20 | ₹- | ₹24000 |
| 14 September | ₹- | ₹- | ₹- |
Hi Green Carbon Company Overview
Hi-Green Carbon Limited, previously known as Shantol Green Hydrocarbons (India), was incorporated in 2011. The company specializes in the business of waste tire recycling. Its manufacturing plant, located in Rajasthan, operates on a continuous pyrolysis process, which is an uninterrupted working method with a continuous feeding and discharging system controlled by a program logic controller system. The plant has a capacity of recycling 100 MT waste tires per day.
The company’s product portfolio includes Recovered Carbon Black (rCB) and Steel Wires under the Raw Material Category, Fuel Oil and Synthesis Gas under the Energy components category. Hi-Green Carbon is planning to construct a new manufacturing plant in the Dhule district of Maharashtra, with a capacity of recycling 100 MT waste tires per day.
Financial Performance:
Hi Green Carbon IPO Financial Information (Restated Standalone):
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | ₹3,310.91 | ₹3,424.36 | ₹4,387.83 |
| Revenue | ₹2,429.39 | ₹5,113.95 | ₹7,903.90 |
| Profit After Tax | ₹9.59 | ₹367.95 | ₹1,084.78 |
| Net Worth | ₹806.28 | ₹1,174.23 | ₹2,259.02 |
| Reserves and Surplus | -1,093.72 | -725.77 | ₹359.02 |
| Total Borrowing | ₹1,783.10 | ₹1,586.70 | ₹1,362.19 |
Key Performance Indicators:
- P/E (x): 13.13
- Post P/E (x): 17.28
- Market Cap (₹ Cr.): 187.43
- ROE: 63.19%
- ROCE: 64.70%
- Debt/Equity: 0.6
- EPS (Rs): 5.71
- RoNW: 48.02%
FAQs (Frequently Asked Questions)
What is Hi Green Carbon Limited’s IPO price band?
The price band for Hi-Green Carbon Limited’s IPO is ₹71 to ₹75 per share.
What is the minimum lot size for Hi-Green Carbon Limited’s IPO?
The minimum lot size for Hi-Green Carbon Limited’s IPO is 1600 shares.
When does the subscription period for Hi-Green Carbon Limited’s IPO start and end?
The subscription period for Hi-Green Carbon Limited’s IPO starts on September 21, 2023, and ends on September 25, 2023.
What is the listing date for Hi Green Carbon Limited’s IPO?
The listing date for Hi-Green Carbon Limited’s IPO is tentatively set as Wednesday, October 5, 2023.