HGS India Share Price

HGS India Limited was originally incorporated as Public Limited Company in the name of Geosource India Limited under the Companies Act, 1956 dated February 13, 1986 with Registrar of Companies, Delhi, Haryana. The name of the Company was changed from Geosource India Limited to HGS (India) Limited vide certificate dated June 10, 1992 obtained from the RoCs, Delhi and Haryana. HGS (India) Limited, (HGSI) was established in 1986 in technical and financial collaboration with Geosource Inc USA, to manufacture geophone strings, seismic cables connectors. When Geosource Inc was bought out by HGS Inc USA, Geosource India Limited changed its name to HGS (India) Ltd. Since then, the Company 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. These products include Seismographs Accelerographs, Seismometers, Seismic System Cables, Panelmount Connectors, Battery Chargers and equipment like Weight Drops and Pig Tracking Systems. The 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 manufacturing facility is situated in Manesar, Haryana, utilizing machinery such as: Precision assembly lines, Injection moulding machines for ruggedized casings and other thermoplastic subassemblies, Coil winding and magnetizing equipment. Company has filed a Draft Red Herring Prospectus with the SEBI is planning to issue 28,80,000 equity shares of Rs 10, comprising a fresh issue of 23,26,000 equity shares and the offer for sale of 5,54,000 equity shares.