The Hi Green Carbon IPO started on September 21, 2023, and ended on September 25, 2023. Shares were allocated on September 28, 2023, and refund processes began on September 29, 2023. On October 3, 2023, the shares were credited to investors demat accounts. Hi Green Carbon was officially listed on the stock exchange on October 4, 2023.
During the IPO, Hi Green Carbon offered shares at a price range of ₹71 to ₹75 per share, and the lot size was 1600 shares. The total issue size was ₹52.80 crores, with ₹44.93 crores from new shares and ₹7.88 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
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Hi Green Carbon IPO Subscription Status
The Hi Green Carbon IPO on September 25, 2023 was subscribed 168.92 times, with the retail category being subscribed 196.35 times, the NII (Non-Institutional Investor) category being subscribed 236.76 times, the QIB (Qualified-Institutional Buyers) category being subscribed 69.95 times.
| Category | Subscription |
| QIB | 69.95x |
| NII | 236.76x |
| Retail | 196.35x |
| Total | 168.92x |
Hi Green Carbon IPO Basic Details
| Company Name | Hi Green Carbon Limited |
| Domain of Company | Recycling Waste Tires |
| IPO Open Date | September 21, 2023 |
| IPO Close Date | September 25, 2023 |
| IPO Allotment Date | September 28, 2023 |
| IPO Listing Date | October 4, 2023 |
| Face Value | ₹10 per share |
| Price | ₹71 to ₹75 per share |
| Lot Size | 1600 Shares |
| Issue Size | 7,040,000 shares of ₹10 (aggregating up to ₹52.80 Cr) |
| Fresh Issue | 5,990,000 shares of ₹10 (aggregating up to ₹44.93 Cr) |
| Offer for Sale | 1,050,000 shares of ₹10 (aggregating up to ₹7.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Company Promoters | M/s Rng Finlease Private Limited, Mr. Amitkumar Hasmukhrai Bhalodi, Dr. Shaileshkumar Vallabhdas Makadia, Mrs. Krupa Chetankumar Dethariya, Mrs. Radhika Amitkumar Bhalodi, Mrs. Shriyakumari Shaileshkumar Makadia and Mr. Koosh Chetanbhai Dethariya |
About Hi Green Carbon Limited
Founded in 2011, Hi-Green Carbon Limited, formerly known as Shantol Green Hydrocarbons (India), is in the business of recycling waste tires.
Hi-Green Carbon runs a manufacturing plant in Rajasthan. The plant uses a continuous pyrolysis process, which is a non-stop method controlled by a program logic controller system. This process is fully automated and requires minimal human involvement. The plant has the capacity to recycle 100 metric tons of waste tires each day.
The company’s product lineup includes Recovered Carbon Black (rCB) and Steel Wires in the Raw Material category, as well as Fuel Oil and Synthesis Gas in the Energy Components category. The Synthesis Gas is used to make sodium silicate, also known as raw glass.
Additionally, Hi-Green Carbon is planning to build a new manufacturing plant in Maharashtra’s Dhule district, spanning 21,500 square meters and with the same 100 metric ton daily tire recycling capacity.
Hi-Green Carbon holds certifications for Environmental Management (ISO 14001:2015), Occupational Health & Safety Management (ISO 45001:2018), Quality Management (ISO 9001:2015), Good Manufacturing Practice (GMP), and RoHS. Its products are also compliant with REACH sustainability standards.
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Hi Green Carbon IPO FAQs
What is the start and end date of Hi Green Carbon IPO Subscription?
The Hi Green Carbon IPO started on September 21, 2023, and ended on September 25, 2023.
When does Hi Green Carbon IPO Subscription open?
The Hi Green Carbon IPO open on September 21, 2023.
When does Hi Green Carbon IPO Subscription close?
The Hi Green Carbon IPO Close on September 25, 2023.
What is the allotment date of Hi Green Carbon IPO?
The allotment date for Hi Green Carbon IPO is September 28, 2023.
When is the initial refund date of Hi Green Carbon IPO?
The initial Refund date for Hi Green Carbon IPO is September 29, 2023.
When were the shares credited to investors demat accounts for the Hi Green Carbon IPO?
The shares for the Hi Green Carbon IPO were credited to investors demat accounts on October 3, 2023.
When will Hi Green Carbon IPO be listed on the stock market?
Hi Green Carbon IPO stock market will be listed on October 4, 2023 at 10 am.
What was the price range of the Hi Green Carbon IPO shares?
The Hi Green Carbon IPO shares were offered at a price range of ₹71 to ₹75 per share.
What was the lot size for the Hi Green Carbon IPO shares?
The lot size for the Hi Green Carbon IPO shares was 1600 shares.
What was the total issue size of the Hi Green Carbon IPO?
The total issue size of the Hi Green Carbon IPO was ₹52.80 crores.
How were the shares allocated among different types of investors for the Hi Green Carbon IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Hi Green Carbon IPO listed?
The Hi Green Carbon IPO was listed on the NSE SME.
What is the Hi Green Carbon IPO Subscription Status?
Hi Green Carbon IPO is subscribed Times.
