Harikanta Overseas IPO
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Harikanta Overseas IPO details
Schedule of Harikanta Overseas
| Issue open date | 20 May 2026 |
| Issue close date | 22 May 2026 |
| UPI mandate deadline | 22 May 2026 (5 PM) |
| Allotment finalization | 25 May 2026 |
| Refund initiation | 26 May 2026 |
| Share credit | 26 May 2026 |
| Listing date | 27 May 2026 |
| Mandate end date | 06 Jun 2026 |
| Lock-in end date for anchor investors (50%) | 21 Jun 2026 |
| Lock-in end date for anchor investors (remaining) | 20 Aug 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Harikanta Overseas
Harikanta Overseas Limited is a textile manufacturing company engaged in the production of synthetic textile fabrics. Its product portfolio includes Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fibre fabrics. The company primarily supplies fabrics used in women’s wear, such as sarees, dress materials, and kurtas, while also offering fabrics for men’s kurtas. The business generates revenue through the manufacture and sale of fabrics in both domestic and international markets. Initially, the company marketed products through merchant exporters and later expanded into direct exports. Its export markets include Bahrain, Singapore, Thailand, and Cambodia, while domestically it serves markets across states such as Gujarat, Delhi, Karnataka, Maharashtra, Punjab, Rajasthan, and Uttar Pradesh. The company also undertakes job work through its subsidiary, Harikanta Weaving Private Limited, to support production and order execution.
Financials of Harikanta Overseas
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 25.63 |
| Fresh Issue – Proceeds go to the company | 25.63 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure for factory premises | 5.4 (21.07%) |
| Repay or prepay certain borrowings | 9.33 (36.40%) |
| Meet working capital requirements | 4.75 (18.53%) |
| General corporate purposes | 6.15 (24%) |
Strengths
- Harikanta Overseas manufactures a wide range of synthetic textile fabrics, including Ikat, saree, and polyester fabrics.
- The company serves both domestic and international markets, including Bahrain, Singapore, Thailand, and Cambodia.
- Its promoters have multi-generational experience in the textile manufacturing business.
- The company has its own manufacturing facility in Surat, Gujarat, with multiple production units.
- Harikanta Weaving Private Limited supports the company through job work and production capacity expansion.
Risks
- The business depends heavily on the timely renewal of licenses, permits, and regulatory approvals.
- The company’s trademarks are currently registered in the name of a director, and the transfer is still pending.
- Promoters will continue to hold significant control after the issue, potentially influencing major decisions.
- The company has related-party transactions with promoter-linked entities and firms.
- The textile business depends on raw material costs and operational efficiency, which can affect profitability.