The Non-Institutional Investors (NIIs) category received bids for 8,20,38,000 shares. The Retail Individual Investors (RIIs) category received bids for 8,01,24,000 shares. The Qualified Institutional Buyers (QIBs) category received bids for 26,01,000 shares.

The issue opened for bidding on 27 December 2023 and it closed on 29 December 2023. The price of the IPO was fixed at Rs 36 per share. The equity shares will be listed on the SME platform of National Stock Exchange of India (NSE EMERGE).

The IPO comprised fresh issue of 26,58,000 shares. The promoter and promoter shareholding diluted to 66.26% from 93.17% pre-IPO.

The company intends to utilize the net proceeds for expansion of the services by launching 2 call centres, capital expenditure towards purchase of computer systems, to meet the working capital requirements, to meet the issue expenses and general corporate purposes.

HRH Next Services 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. The company clients list includes various Start-ups and other Companies in the field of Telecom, Foodtech, Autotech, E-Commerce, Fintech, Education, Healthcare, as well as Government and Banking sectors. As on 30 November 2023, the company had 284 employees.

The company recorded revenue from operations of Rs 21.39 crore and net profit of Rs 1.50 crore for the period as on 30 September 2023.