Harsha Engineers IPO Date, Price, GMP & Details

Harsha Engineers IPO
Harsha Engineers IPO

Harsha Engineers IPO: Harsha Engineers IPO is set to open on Wednesday, September 14, 2022 and conclude on September 17. Harsha Engineers IPO fixed a price band of ₹314-330 per share for its ₹755-crore issue.

Harsha Engineers IPO
Harsha Engineers IPO

Harsha Engineers IPO Date & Price

Harsha Engineers IPO will open for subscription on September 14 and will close on September 16, 2022. The initial public offering (IPO) of Harsha Engineers International Ltd has set a price band of Rs 314-330 a share for its IPO issue.

Harsha Engineers IPO to raise around ₹755 crores via IPO that comprises a fresh issue of Rs 455 crore and an offer for sale of up to Rs 300 crore by shareholders and promoters of ₹10 each. The retail quota is 35%, QIB is 50%, and HNI is 15%. The current grey market premium for the IPO stood at between Rs 140-150 a share

Shares will be credited to successful allottees’ demat accounts on September 23 and the company will make its market debut on September 26.

Harsha Engineering is Ahmedabad-based company’s second attempt to go public. It had filed draft papers with the regulator in August 2018. Harsha Engineering was founded by Rajendra Shah and Harish Rangwala in 1986. The company has five manufacturing facilities with three in Gujarat and one each in China and Romania. The promoters hold 99.7 percent of the company’s equity.

Harsha Engineers International Limited is a TPM certified Precision Engineering Company manufacturing Bearing Cages and Stamped Components. It offers a diverse suite of precision engineering products across geographies and end-user industries, including automotive, aviation and aerospace, railways, construction, mining, renewable energy, agriculture and other industrial sectors, the DRHP said.

The company supplies its products to over 25 countries across five continents i.e., North America, Europe, Asia, South America and Africa.

Object Of the Issue :

  • Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company;
  • Funding capital expenditure requirements towards purchase of machinery;
  • Infrastructure repairs and renovation of our existing production facilities including office premises in India; and
  • General corporate purposes.

Competitive strengths of Harsha Engineers

  • Company is a comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries.
  • It has long-standing relationships with leading clientele.
  • It has strategically located domestic and international production facilities and warehouses.
  • Company has expertise in Tooling, design, development and automation.
  • Company has a consistent track record of growth and financial performance.
  • It has strong, experienced and dedicated senior management team and qualified workforce.

Harsha Engineers IPO Date & Price Band

 Harsha Engineers IPO Open: September 14, 2022
 Harsha Engineers IPO Close: September 16, 2022
 Harsha Engineers IPO Size: Approx ₹755 Crores
 Fresh Issue: Approx ₹455 Crores
 Offer for Sale: Approx ₹300 Crores
 Face Value: ₹10 Per Equity Share
 Harsha Engineers IPO Price Band: ₹314 to ₹330 Per Share
 Harsha Engineers IPO Listing on: BSE & NSE
 Retail Quota: 35%
 QIB Quota: 50%
 NII Quota: 15%

Harsha Engineers IPO Market Lot

The Harsha Engineers IPO minimum market lot and application amount.

 Minimum Lot Size:Minimum 45 Shares for 1 lot
 Minimum Amount: ₹14,850 for 1 lot
 Maximum Lot Size:Maximum 585 Shares for 13 lot
 Maximum Amount:₹193,050 for 13 lot

Harsha Engineers IPO Allotment & Listing Dates

 Price Band Announcement: September 9, 2022
 Anchor Investors Allotment: September 13, 2022
 Harsha Engineers IPO Open Date: September 14, 2022
 Harsha Engineers IPO Close Date: September 16, 2022
 Basis of Allotment: September 21, 2022
 Refunds: September 22, 2022
 Credit to Demat Account: September 23, 2022
 Harsha Engineers IPO Listing Date: September 26, 2022

Harsha Engineers IPO Peer Comparison PE :

The Harsha Engineers, According to DRHP of the company four company is listed whose PE Multiple is shown in this table.

Sr. No.CompanyPE Ratio
1.Timken India Limited104.49
2.SKF India Limited65.36
3.Rolex Rings Limited36.57
4.Sundaram FastenersLimited50.94

Harsha Engineers Company Financial Report

Here are the total assets, revenues and profits of the company in the last 4 years.

Financial Year ending / Period ending (Amt in Crores)
ParticularsFY19FY20FY21FY22
Total Assets195.0973.2981.11,158.3
Revenues117.9899.5876.71,339.0
Profit After Tax-27.421.945.491.9
Profit %-23.25%2.44%5.18%6.87%

Company Promoters

  • Rajendra Shah
  • Harish Rangwala
  • Vishal Rangwala
  • Pilak Shah

Harsha Engineers IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: harshaengineers.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Harsha Engineers IPO Allotment Status Check

Check Harsha Engineers IPO allotment status on Linkintime website allotment URL. Click Here

Harsha Engineers IPO Lead Managers

  • Axis Capital Limited
  • Equirus Capital Private Limited
  • JM Financial Consultants Private Limited

Company Address

Harsha Engineers International Limited
NH-8A, Sarkhej- Bavla Highway,
Changodar, Ahmedabad 382213
Phone: +91 2717-618200
Email: sec@harshaengineers.com
Website: http://www.harshaengineers.com/

FAQs

What is Harsha Engineers IPO Price Band?

Harsha Engineers IPO Price Band is ₹314 to ₹330.

What are Harsha Engineers IPO Dates?

The IPO would open for subscription on 14th September, 2022 and closes on 16th September, 2022.

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