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The initial public offer (IPO) of HRH Next Services received bids for 68,79,000 shares as against 26,58,000 shares on offer, as per NSE data as of 17:00 hours on Wednesday, (27 December 2023). The issue was subscribed 2.58 times.
The issue opened for bidding on Wednesday (27 December 2023) and it will close on Friday, (29 December 2023). The price of the IPO is fixed at Rs 36 per share. The minimum order quantity is 3,000 equity shares. The equity shares are proposed to be listed on the SME Platform of National Stock Exchange of India (NSE EMERGE).
The IPO comprises fresh issue of 26,58,000 shares. The promoter and promoter shareholding will dilute to 66.26% from 93.17% Pre-IPO.
About 1,35,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 25,23,000 equity shares. The issue and the net issue will constitute 28.87% and 27.41% respectively of the post-issue paid-up equity share capital of our company.
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.
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