HRH Next Services IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 29, 2023Let’s have a detailed review of the company and analytics of the HRH Next Services IPO release date, IPO offer price, subscription, HRH Next Services Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 36 |
| Listing At | NSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | January 3, 2024 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 957 Lakh |
| IPO Size | Rs 957 Lakh |
| Tick Size | 1 |
HRH Next Services IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – HRH Next Services Share Price |
HRH Next Services IPO – Summary
HRH Next Services Limited is engaged in Business Process Outsourcing (BPO) offering a comprehensive suite of Call Centre Services, covering Inbound Services, Outbound Services, Backend Support, Chat Support, Email Support and more.
Their speciality is in providing efficient end-to-end solutions to their clients. They customise their top-notch solutions to meet specific business needs, helping their clients achieve their objectives.
The Promoter of this company is MR. ANKIT SANJAY SHAH, MR. PARIKSHIT PANKAJ SHAH, AND MRS. TARA SANJAY SHAH. The lead manager of the issue is FINSHORE MANAGEMENT SERVICES LIMITED, and the Registrar of this issue is CAMEO CORPORATE SERVICES LIMITED.
HRH Next Services IPO Date
The opening and closing dates of HRH Next Services IPO are December 27, 2023 and December 29, 2023, respectively.
HRH Next Services IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 27th Dec | 1.12x | 4.83x | 2.98x |
| 2nd Day – 28th Dec | 4.40x | 17.33x | 10.86x |
| 3rd Day – 29th Dec | 66.91x | 63.61x | 66.29x |
| Shares Offered or Net Issue | 1,263,000 | 1,260,000 | 2,658,000 |
The shares subscribed by the public will be updated here.
HRH Next Services IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
HRH Next Services Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | January 1, 2024 |
| Refunds Initiation | January 2, 2024 |
| Credit of Shares to Demat Account | January 2, 2024 |
| Share Listing Date | January 3, 2024 |
HRH Next Services IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.36
HRH Next Services IPO Equity Size
This Initial Public Issue of 2,658,000 Equity Shares of Rs.10 each for cash at a price of Rs.36 per equity share aggregating to Rs.957 Lakh.
HRH Next Services IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,658,000 Equity Shares of Rs.10/ each.
Issue Size: 2,658,000 Equity Shares of Rs.10 each, aggregating to Rs.957 Lakh
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HRH Next Services IPO – Live Performance
The listing date of this IPO is January 3, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – HRH Next Services Share Price |
HRH Next Services IPO Grey Market Premium
The HRH Next Services Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
HRH Next Services IPO – Company Overview
Their Company was originally incorporated on February 02, 2007, as “HRH Next Services Private Limited” under the provisions of the Companies Act, 1956 with the Registrar of Companies, Andhra Pradesh. Subsequently, their Company was converted into a Public Limited Company and the name of the company was changed from “HRH Next Services Private Limited” to “HRH Next Services Limited” vide a fresh certificate of incorporation dated August 25, 2023, issued by the Registrar of Companies, Hyderabad.
Incorporated in the year 2007, HRH Next has seen exponential growth over the years. As a domestic contact centre services provider, they are always committed to fulfilling the requirements of their clientele according to their needs. In order to meet these requirements, they have adapted to the best measures in the industry for customer support services.
They transform customer experiences by providing excellent services to companies of multiple sectors. Using the latest technology; an experienced & dynamic team; and simple yet effective language, they help consumers understand, relate to, and have a positive experience with brands. HRH Next is proud to be an early adopter, whose vision is to change the customer experience landscape in India.
HRH Next Services IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR) | ||||
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 31,13,85,837 | 28,82,29,418 | 18,64,85,458 | 12,98,10,077 |
| *Total Revenue | 21,52,50,679 | 51,24,96,301 | 44,28,42,202 | 24,24,26,025 |
| Total Expense | 19,51,06,086 | 46,31,05,196 | 42,87,10,716 | 23,87,31,015 |
| Profit After Tax | 1,50,83,937 | 3,47,79,343 | 93,02,991 | 25,18,330 |
Earnings per Equity Share (in Lakh)
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 2.41 | 5.61 | 1.50 | 0.41 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 3,47,79,343, Rs. 93,02,991 and Rs. 25,18,330 respectively.
HRH Next Services IPO – Promoters
The Promoter of this company is:
- MR. ANKIT SANJAY SHAH,
- MR. PARIKSHIT PANKAJ SHAH,
- MRS. TARA SANJAY SHAH
List of Related Parties (Key Managerial Personnel)
- Ankit Sanjay Sha, Managing Director
- Trishla Shah, Wholetime Director
- Parikshit Pankaj Shah, Non-Executive Director
- Srikanth Punati, Independent Director
- Neha Agarwal, Independent Director
HRH Next Services IPO – Promoters Holding
- Pre-Issue Share Holding – 97.88%
- Post-Issue Share Holding – 69.61%
HRH Next Services IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 26,58,000 Equity Shares aggregating up to Rs.956.88 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,35,000 Equity Shares aggregating up to Rs.48.60 Lakh |
| Net Issue to the Public | Up to 25,23,000 Equity Shares aggregating up to Rs.908.28 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 12,63,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 12,60,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 65,47,438 Equity Shares |
| Equity Shares outstanding after the Issue | 92,05,438 Equity Shares |
HRH Next Services IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Expansion of their Services by launching 2 (two) Call Centres
- Capital Expenditure towards Purchase of Computer Systems
- To meet the working capital requirements
- To meet the Issue Expenses
- General Corporate Purposes
HRH Next Services IPO – Business Strategy
- Expand their Current Business Relationships
- Optimal Utilization of Resources
- Enhance operational controls to ensure timely completion of Service
- To build up a Professional Organization
- Invest in infrastructure and technology
HRH Next Services IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established and proven track record;
- Leveraging the experience of their Promoters;
- Experienced management team and a motivated and efficient workforce;
- Cordial relations with their customers
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 5.61 | 33.29 | 16.85 |
| 31-Mar-22 | 1.50 | 13.35 | – |
| Mar-21 | 0.41 | 4.17 | – |
HRH Next Services IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| HRH Next Services Limited | 10 | 15.62 | 14.53 | 16.43% | 2,617.97 |
| Listed Peers | |||||
| Platinumone Business Services Limited | 10 | 12.06 | 1.41 | 6.05% | 1,611.28 |
| Kandarp Digi Smart BPO Limited | 10 | 15.18 | 2.57 | 11.03% | 4,910.47 |
HRH Next Services IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal, India Telephone: 033 – 2289 5101 / 4603 2561 Email: info@finshoregroup.com Contact Person: Mr. S. Ramakrishna Iyengar Website: www.finshoregroup.com Investor Grievance Email: investors@finshoregroup.com SEBI Registration No: INM000012185 CIN No: U74900WB2011PLC169377 |
HRH Next Services IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Telephone: +91-44-40020700, 28460390 Email: ipo@cameoindia.com Contact Person: Ms. K. Sreepriya Website: www.cameoindia.com Investor Grievance Email: investor@cameoindia.com SEBI Registration Number: INR000003753 CIN No: U67120TN1998PLC041613 |
HRH Next Services IPO – Other Details
- Statutory Auditor – “M/s. R. Subramanian and Company LLP, Chartered Accountants”
- Legal Counsel to the Company – J MUKHERJEE & ASSOCIATES
- Bankers to the Company – ICICI Bank Limited
HRH Next Services IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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HRH Next Services Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
HRH Next Services IPO Review FAQs
Check out various FAQs related to HRH Next Services IPO:
What is the Issue Size of HRH Next Services IPO?
The Company is making an initial public offer of 2,658,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of HRH Next Services IPO?
The price band for this particular IPO ranges between Rs 36. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the HRH Next Services IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 27, 2023, while the closing date is set at December 29, 2023.
What is the HRH Next Services IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on January 1, 2024, refund initiation is on January 2, 2024, credit of shares is on January 2, 2024, and share listing date is on January 3, 2024.
What is the HRH Next Services IPO Listing Date?
Shares of this company shall be listed in the exchanges on January 3, 2024. The date, when the listing would be done, is stagnant on January 3, 2024.
Who is the Registrar of HRH Next Services IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of HRH Next Services IPO?
Here are the promoters of this IPO – MR. ANKIT SANJAY SHAH, MR. PARIKSHIT PANKAJ SHAH, AND MRS. TARA SANJAY SHAH. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of HRH Next Services IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is HRH Next Services IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of HRH Next Services Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 is 3,47,79,343, 2022 is 93,02,991, and 2021 is 25,18,330. PAT from Jun 2023 is 1,50,83,937.
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