HRH Next Services Ltd IPO Timeline

HRH Next Services Ltd IPO opens on 27-Dec-2023, and closes on 29-Dec-2023. The HRH Next Services Ltd IPO bid date is from 27-Dec-2023 to 29-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
HRH Next Services Ltd IPO Opening Date 27-Dec-2023
HRH Next Services Ltd IPO Closing Date 29-Dec-2023
Basis of Allotment 01-Jan-2024
Initiation of Refunds 02-Jan-2024
Credit of Shares to Demat 02-Jan-2024
HRH Next Services Ltd IPO Listing Date 03-Jan-2024

HRH Next Services Ltd IPO Lot Size

HRH Next Services Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 108000).

Application Lots Shares Amount
Minimum 1 3000 ₹108000
Maximum 1 3000 ₹108000

HRH Next Services Ltd IPO Details

HRH Next Services Ltd IPO Date 27-Dec-2023 to 29-Dec-2023
HRH Next Services Ltd IPO Face Value Shares of ₹10 per share
HRH Next Services Ltd IPO Price ₹36 per share
HRH Next Services Ltd IPO Lot Size 3000
Issue Size Shares of ₹10 (aggregating up to ₹9.57 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹9.57 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Ankit Sanjay Shah, Parikshit Pankaj Shah, Tara Sanjay Shah.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Expansion of its services by lanunching 2 call centres
  • 2 Capital expenditure towards purchase of computer systems
  • 3 Working capital requirements
  • 4 General corporate expenses

Company Financials

HRH Next Services Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 37.13 45.77 1.84
03-2023 28.82 51.25 2.78
03-2022 18.65 44.28 0.93
Amount in ₹ Crore
  • Established and proven track record.
  • Leveraging the experience of its Promoters.
  • Experienced management team and a motivated and efficient work force.
  • Cordial relations with its customers.
  • Quality Assurance & Control .
  • Its top ten clients contribute majority of its revenues from operations. Any loss of business from one or more of them may adversely affect the company revenues and profitability.
  • The company's inability to effectively manage its rapid growth could have a material adverse effect on the company operations, results of operations and financial condition.
  • Its business is highly dependent on technology and any disruption or failure of its technology systems may affect the company operations.
  • The business of the company is exposed to operational disruptions which can disrupt the normal functioning of the company's operations. These disruptions can be caused by various factors such as system failures, cyberattacks, or internal inefficiencies.
  • Its failure to perform in accordance with the standards prescribed in its client contracts could result in loss of business or payment of liquidated damages.
  • The properties used by the Company for the purpose of its operations are not owned by it. Any termination of the relevant lease agreement or rent agreement in connection with such properties or its failure to renew the same could adversely affect the company operations.
  • Certain Computer Systems used by the Company for the purpose of its operation are not owned by it. Any termination of the relevant lease/rent agreement in connection with such properties or its failure to renew the same could adversely affect its operations.
  • If the company is unable to successfully implement its proposed expansion plans; its results of operations and financial condition could be adversely affected.
  • The Company is yet to place orders for purchase of computer Systems, Servers, Work Station, Furniture, Networking System, UPS, Air Conditioner, CCTV, Biometric, Server Room Peripherals and Carpet Tiles. Any delay in placing orders or procurement of such items may delay the schedule of implementation and possibly increase the cost of commencing operations.
  • Its may fail to attract and retain enough sufficiently trained employees to support its operations, as competition for highly skilled personnel is intense and its experience significant employee turnover rates.
  • If the company is unable to respond to the demands of its existing and new clients, or adapt to technological changes, its and growth could be adversely affected.
  • Wage increases in India may prevent it from sustaining the company competitive advantage and may reduce its profit margin.
  • The company face intense competition in its businesses, which may limit its growth and prospects. The markets for the company services continue to evolve and are competitive.
  • If its customers default in their repayment obligations, the company's business, results of operations, financial condition and cash flows may be adversely affected.
  • Unauthorized disclosure of sensitive or confidential client and client's customer data, whether through a breach of its computer systems or otherwise, could expose it to protracted and/or costly litigation and cause the company to lose clients.
  • Its revenues are significantly dependent upon services such as Outbound Sales & Services.
  • The nature of the contracts the company has with itx clients contain inherent risks and contain certain provisions, which, if exercised, could result in lower future income and negatively affect its profitability.
  • Its inability to effectively manage the company growth or to successfully implement its business plan and growth strategy could have an effect on its business, results of operations and financial condition.
  • The company depends on skilled personnel and if the company is unable to recruit and retain skilled personnel, its ability to operate or grow its business could be affected.
  • Misconduct or errors by manpower engaged by its could expose the company to business risks or losses that could affect its business prospects, results of operations and financial condition.
  • The company debt financing agreements contain certain restrictive covenants that may adversely affect the Company's business, credit ratings, prospects, results of operations and financial condition.
  • The company is subject to the risk of failure of, or a material weakness in its internal control systems.
  • The Company' insurance policies may not protect it against certain operational risks or claims by the company employees.
  • Its business is substantially affected by prevailing economic, political and other prevailing conditions in India.
  • The future operating results are difficult to predict and may fluctuate or adversely vary from the past performance.
  • There are certain legal proceedings involving the Company.
  • Its operating results could be adversely affected by weakening of economic conditions due to lock-down in all parts of India & other situation due to pandemic Covid-19.
  • If the company is unable to manage/arrange funds (including at short notice) to meet its working capital requirements, there may be an adverse effect on its results of operations.
  • Its management will have broad discretion in how the company apply the Net Proceeds of the Issue and there is no assurance that the Objects of the Offer will be achieved within the time frame expected, or at all, or that the deployment of Net Proceeds in the manner intended by it will result in an increase in the value of your investment.
  • The company is susceptible to risks relating to unionization of its employees employed by it.
  • Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
  • The logo used by the Company is not registered. its ability to use the trademark may be impaired if the same is not registered under its name.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The Company may face risks associated with business transactions with Government Entities or Agencies.
  • The average cost of acquisition of Equity Shares by its Promoters is lower than the Issue Price.
  • The company has issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
  • The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • Its business is subject to seasonal and other fluctuations that may affect its cash flows and business operations.
  • The company share its registered office with its Group Companies.
  • The company has entered into, and will continue to enter into, related party transactions.
  • Shortage or non-availability of essential utilities such as electricity could affect its operations and have an adverse effect on the company's business, results of operations and financial condition.
  • Its business requires it to obtain and renew certain licenses and permits from government, regulatory authorities and other national/ international corporations and the failure to obtain or renew them in a timely manner may adversely affect its business operations.
  • Its success depends heavily upon its Promoters and Directors for their continuing services, strategic guidance and financial support.
  • An inability to manage its growth could disrupt its business and reduce the company profitability.
  • The Company has availed certain unsecured loan which can be recalled at any time.
  • Its lenders have charge over the company book debts, stocks in respect of finance availed by it.
  • Its directors have provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees.
  • Some of the approvals are required to be updated consequent to the change in the name of the Company.
  • Some of the KMPs is associated with the company for less than one year.
  • Certain Agreements /deeds may be in the previous name of the company.
  • Certain agreements may be inadequately stamped or may not have been registered as a result of which its operations may be adversely affected.
  • Certain relevant copies of experience certificates of its promoters/Directors are not traceable.
  • Its senior management team and other key team members in the company's business units are critical to its continued success and the loss of such personnel could harm its business.
  • Its Directors and certain Key Management Personnel hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
  • The Promoter and Promoter Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
  • The Company has not paid any dividends till now and there can be no assurance that its will pay dividends in future.
  • The Promoter and Promoter Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
  • An inability to renew quality accreditations in a timely manner or at all, or any deficiencies in the quality of its products may adversely affect the company's business prospects and financial performance.
  • The company is subject to risks arising from interest rate fluctuations, which could adversely affect its business, financial condition and results of operations.
  • Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes amounting to Rs. 150.00 lakhs which constitute 15.68% of the total Issue Proceeds.
  • Its Board of Directors and management may change the company operating policies and strategies without prior notice or shareholder approval.
  • Industry information included in this draft prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
  • There is no guarantee that its Equity Shares will be listed on the Emerge Platform of National Stock Exchange of India Limited in a timely manner or at all.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The Issue Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue.
  • After this Issue, the price of its Equity Shares may be volatile, or an active trading market for its Equity Shares may not be sustained.
  • The investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • Any future issuance of Equity Shares may dilute the investors' shareholdings or sales of its Equity Shares by its Promoters or Promoter Group may adversely affect the trading price of its Equity Shares.
  • Its ability to pay dividends in the future will depend upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • The investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
  • You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • Applicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
  • Foreign investors may be restricted in their ability to purchase or sell Equity Shares.
  • Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
  • Its Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
  • Expand its 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 Ltd IPO Promoter Holding

Pre Issue Share Holding 93.17%
Post Issue Share Holding 66.26%

HRH Next Services Ltd IPO Subscription Status (Bidding Detail)

The HRH Next Services Ltd IPO is subscribed 61.9955 times on Dec 29, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 61.9955

HRH Next Services Ltd IPO Prospectus

HRH Next Services Ltd IPO Listing Date

Listing Date 03 Jan 24
BSE Script 92234
NSE Symbol HRHNEXT
Listing In NSE - SME
ISIN INE0R3501012
IPO Price ₹36
Face Value ₹10

HRH Next Services Ltd IPO Registrar

Cameo Corporate Services Ltd

Phone: +91-44-40020700, 28460390
Email: ipo@cameoindia.com
Website: www.cameoindia.com

HRH Next Services Ltd IPO Lead Manager(s)

  1. Finshore Management Services Ltd

FAQs on HRH Next Services Ltd IPO

HRH Next Services Ltd IPO, which opens for subscription from 27-Dec-2023 to 29-Dec-2023 has an issue size of ₹9.57 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for HRH Next Services Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

HRH Next Services Ltd IPO Opens for subscription from 27-Dec-2023 to 29-Dec-2023.

The lot size of HRH Next Services Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹108000 and ₹108000 respectively.

Allotment date for HRH Next Services Ltd is 01-Jan-2024 and refund of application amount (in case allotment is not received) will begin from 02-Jan-2024. If your allotment goes through, then shares will be credited in your Demat account by 02-Jan-2024.

The registrar for HRH Next Services Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.

The shares of HRH Next Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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