Harsha Engineers IPO Review: GMP, Price Band, Opening Date And Other Key Details

Harsha Engineers IPO: On September 14, 2022, Harsha Engineers International Ltd will launch its initial public offering (IPO), which will be available for subscription through September 16, 2022. The business, which is the world’s largest producer of precision bearing cages, has set the price of its public offering at between ₹314 and ₹330 rupees per equity share and plans to list on both the BSE and NSE. Grey market sentiment toward the Harsha Engineers IPO is now quite strong, according to market experts, with a GMP (grey market premium) of ₹200.

Here we list out important Harsha Engineers IPO details:

Harsha Engineers IPO GMP:

Market watchers claim that shares of Harsha Engineers are currently available on the grey market for a premium of ₹200 rupees.

Harsha Engineers IPO Subscription:

The issue will open on 14th September 2022 and it will remain open on 16th September 2022.

Harsha Engineers IPO Price Band:

The company has fixed its offer price at ₹314 to ₹330 per equity share.

Harsha Engineers IPO Size:

The company aims to raise ₹755 crore out of which ₹300 crore is expected via OFS route.

Harsha Engineers IPO Lot Size:

A bidder will be allowed to submit applications for the IPO in lots, and each lot will include 45 business shares.

Harsha Engineers IPO Allotment Date:

The tentative date for share allotment is 21st September 2022.

Harsha Engineers IPO Financials:

The Ahmedabad-based company’s revenue from operations increased by 51.24 percent to ₹1321.48 crore for the fiscal year 2022 from ₹873.75 crore for the fiscal year 2021, primarily due to an increase in its revenue from operations in the engineering business. Profit after tax increased by 102.35 percent to ₹91.94 crore for the fiscal year 2022 from ₹45.44 crore for the fiscal year 2021, primarily due to an increase in the revenue from operations in the engineering business and a decrease in

Harsha Engineers IPO Lead Managers:

Axis Capital Limited, Equirus Capital Private Limited, and JM Financial Limited are the book running lead manager to the issue.

Harsha Engineers IPO Registrar:

Link Intime India Private Limited has been appointed as official registrar of the public issue.

Harsha Engineers IPO Listing:

The issue is proposed for listing on both NSE and BSE.

Harsha Engineers IPO Listing Date:

The tentative date for IPO listing is 26th September 2022.

About Harsha Engineers International

The Ahmedabad-based business offers a diverse range of precision engineering products across geographies and end-user industries. Its engineering business produces bearing cages (in brass, steel, and polyamide materials), complex and specialised precision stamped components, welded assemblies, brass castings, cages, and bronze bushings. Its solar EPC business offers comprehensive turnkey solutions to all solar energy project needs.

As of March 31, 2022, has produced more than 2,95 additional goods in addition to 7,205 bearing cages. Additionally, its product development and innovation department has created more than 1,200 items in various bearing kinds during the last three years.

The company has five strategically located manufacturing facilities, with two of its principal facilities in Changodar, one in Moraiya, close to Ahmedabad in Gujarat, India, one manufacturing unit in Changshu, China, and one in Ghimbav Brasov, Romania. This allows it to access its customers in over 25 countries across five continents, including North America, Europe, Asia, and Australia.

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