Legacy Law Offices acts on HGS India IPO

HGS (India) Limited has successfully completed its Initial Public Offering on the NSE SME platform for a book-built offer for a fresh issue of 23,26,000 shares, and an offer for sale of 5,54,000 shares, with an offer size of approximately ₹35 crore.

Legacy Law Offices advised and acted as the legal counsel for HGS India, the Book Running Lead Manager Hem Securities Limited, and the Selling Shareholders (Pawan Singh, Anjali Singh, Beena Dosija, Karan Singh, Preneet Kaur, Anil Seth, Archna Dosija, Girrendra Kaur, Veena Uttamsingh, Anil Henrik Ramel Singh, and Chaya Cecilia Ramel Homann) on this SME IPO.

The transaction team comprised of Priya Kataria (Associate Partner), Naman Anand (Counsel) and Associates Meghna Shukla, and Pavitra Balgi. 

Surbhi Narang (Partner) provided strategic inputs.

Amarendra Gogoi (Partner) advised on Insurance and Real Estate aspects.

HGS India is engaged in the business of manufacturing geophones, geophone strings, seismic cables, geophysical connectors, and parts and accessories for geophysical equipment for the seismic industry within the energy and geoscience sectors. Its products are used in the acquisition of seismic data and are integral to recording and transmitting ground vibration signals for the processing, interpretation, and analysis of subsurface geological structures.

The listing was highly successful, as the scrip listed at 160₹, i.e with a 33.3% premium over the issue price of 120₹ at the top band.

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