Grey market premium harsha engineers ipo

The upcoming initial public offering (IPO) of Ahmedabad-based Harsha Engineers International would open for subscription on September 14 and conclude on September 16. The precision bearing cage manufacturer's public issue consists of a fresh issue of equity shares aggregating to Rs 455 crore and an offer-for-sale (OFS) of up to Rs 300 crore by existing shareholders. As a part of the OFS, the company's promotors and promotor groups -- Rajendra Shah, Harish Rangwala, Pilak Shah, Charusheela Rangwala and Nirmala Shah -- would offload shares. The OFS offer also includes a reservation for subscription by eligible employees. This is the company's second attempt to go public. It had filed its draft papers with the regulator in August 2018 but later shelved the proposal due to the IL&FS crisis, which shook the NBFC (non-banking financial company) sector. IPO price band: Harsha Engineers has fixed the IPO price band at Rs 314-330 per share for the Rs 755 crore initial share offer. On the IPO front, half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 45 equity shares and in multiples of 45 equity shares thereafter. Grey market premium: Market participants said Harsha Engineers IPO grey market premium (GMP) today is at Rs 200. It implies that the grey market is expecting the lender to list around Rs 530 (Rs 330 + Rs 200), which...

The initial public offering (IPO) of Harsha Engineers International Ltd, will open for bidding on 14 September. The precision bearing cages manufacturer has set a price band of Rs 314-330 per share for its maiden public issue which will remain open for subscription till Friday, 16 September. The company plans to raise Rs 755 crore through this IPO. The anchor book will open on Tuesday, 13 September. Axis Capital, Equirus Capital and JM Financial are the lead managers to the issue. The shares of the company were trading in the grey market at a premium of Rs 140-150 a share, according to experts. The IPO consists of a fresh issue of Rs 455 crore and an offer for sale (OFS) of up to Rs 300 crore by shareholders and promoters. As part of the OFS, Rajendra Shah is looking to offload shares worth up to Rs 66.75 crore, Harish Rangwala up to Rs 75 crore, Pilak Shah up to Rs 16.50 crore, Charusheela Rangwala up to Rs 75 crore and Nirmala Shah up to Rs 66.75 crore. Investors can make a bid for a minimum of 45 equity shares and in multiples thereafter. The company is offering a discount of Rs 31 per equity share to its eligible employees. Up to 50 per cent of the total offer is reserved for qualified institutional buyers, and 15 per cent for non-institutional investors. The remaining 35 per cent stake is allocated to the retail investors. The IPO shares are likely to be credited to successful allottees’ demat accounts on September 23 and the company is expected to make its market deb...

Amid the sell-off on Dalal Street, the grey market premium of The public issue of Harsha Engineers garnered a strong response and was subscribed 74.7 times on the final bidding day. The issue received bids for 125.97 crore shares against the 1.69 shares on offer, according to the stock exchanges data. This is the strongest response to an IPO from investors so far in 2022. The qualified institutional buyer portion was subscribed 178.26 times, while the portion reserved for non-institutional investors witnessed a subscription of 71.32 times. The retail investors' portion was subscribed 17.63 times. The Rs 755-crore IPO comprises the issuance of fresh equity shares worth Rs 455 crore, whereas existing shareholders and promoters will offload Rs 300 crore from the stake via an offer for sale (OFS). The price band for the share sale has been fixed at Rs 314-330 apiece. The proceeds from the issue will be put towards payment of debt worth Rs 270 crore, payment of machinery costing Rs 77.95 crore, infra repairs worth more than Rs 7 crore, and renovation of the existing facilities, along with general corporate purposes. Abhay Doshi, Co-founder, of Unlisted Arena is of the view that “Strong revenue growth, profitability and reasonable pricing of Harsha Engineers has been able to captivate the interest of investors which led to overwhelming subscription, indicating a stellar listing on cards. The Harsha Engineers IPO may list above Rs 500 mark if the market remains in a balanced stat...

The grey market premium (GMP) for Harsha Engineers International Ltd, a manufacturer of precision bearing cages, has declined nearly 60 percent ahead of the listing amid volatile local equity markets. The stock will be listed on Monday. A trader, who did not wish to be named, said that at the peak, the Harsha Engineers GMP was quoting at Rs 240 or 72 percent higher from its issue price at the time of closing of the IPO and then it went downhill. On Friday, it was quoting at Rs 180 and on Saturday it fell again to Rs 150 a share. It was in the Rs 135-140 range on Sunday, he said. The Rs 755 crore issue was subscribed nearly 75 times. The issue consists of a fresh issue of Rs 455 crore and an offer for sale of up to Rs 300 crore by shareholders and promoters. The IPO set its price band at Rs 314-330 a share. At the offer price of Rs. 314-330, the stock trades at a P/E valuation of 31.3x-32.7x its FY2022 after the IPO-diluted EPS. Given the company’s robust share in the bearing case market and strong relationships with its customers, the company’s growth prospects look promising, analysts said. Both the Sensex and the Nifty dropped for the third sessions and fell 2.7 percent each in this period. The volatility in the markets was due to fall in global equities after the US federal reserve hiked rates and indicated that it will tighten further.

Synopsis Ahmedabad-based Harsha Engineers has five manufacturing facilities with two facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, and one manufacturing unit each at Changshu (China) and Ghimbav Brasov (Romania).It claims to have a 50 per cent market share in the organised segment of the Indian bearing cages market and a 5.2 per cent market The company is looking to raise Rs 755 crore, which consists of a fresh issue of shares worth Rs 455 crore and an offer for sale (OFS) by promoters of Rs 300 crore. Analysts tracking the grey market are citing sound fundamentals, growth prospects, higher market share and reasonable valuations as reasons behind lofty valuations. It claims to have a 50 per cent market share in the organised segment of the Indian bearing cages market and a 5.2 per cent market share in the global organised bearing cages market for brass, steel and polyamide cages as of 2020. Dinesh Gupta, co-founder of UnlistedZone said the company is launching its shares at reasonable valuations compared to peers. "It has left something on the table for investors." However, these are just initial trends and one should wait for the bidding process for the IPO to conclude, said analysts. Harsha Engineers 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 more. The company, which serves in mo...

Incorporated in 2010, Harsha Engineers International Limited is the largest manufacturer of precision bearing cages, in terms of revenue in organised sector in India. The company is a part of the Harsha Group. The company supplies its products to customers in over 25 countries covering five continents i.e., North America, Europe, Asia, South America and Africa. The business comprises of two segments: 1. Engineering business, under which the company manufactures bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages & bronze bushings. 2. Solar EPC business, under which the company provide complete comprehensive turnkey solutions to all solar photovoltaic requirements and provides operations and maintenance services in the solar sector. As of September 30, 2021, Harsha Engineers International have been able to manufacture more than 7,205 bearing cages and more than 295 other products for customers in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics and renewables sectors. In addition, over the past three years company's product development and innovation centre has developed more than 1,200 products in different bearing types. The company has five manufacturing facilities for engineering business with two manufacturing facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, India and one manufacturi...

Harsha Engineers International’s Rs 755-crore IPO, which got subscribed 71.32 times on the final day of bidding, is likely to finalise the basis of allotment on Wednesday, 22 September. The portion reserved for qualified institutional buyers was subscribed 178.26 times and that for non-institutional investors was subscribed 71.32 times. The retail investors portion was subscribed 17.63 times. The IPO shares were sold at a price band of Rs 314-330 per share. The equity shares are expected to list on BSE and NSE on 26 September 2022. The initiation of refunds or unblocking of funds from ASBA account will take place on 22 September, and the equity shares will get credited to allottees demat account on 23 September 2022. In the grey market, Harsha Engineers International IPO shares were commanding a premium in the range of Rs 220-240 premium against the IPO price of Rs 330 apiece, according to the people who deal in unlisted shares of the companies. The IPO investors can check the IPO allotment status via BSE and the registrar’s websites. The registrar of the issue is Link Intime India Private Ltd, a SEBI-registered entity, responsible for the IPO allotment and refund processing. Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak Check Harsha Engineers International share allotment status via registrar Link Intime India website To check the share allotment status, select the company name as ‘ Also Read: Check share allotment status in Harsha Engineers International vi...

Bearing cages manufacturer, Harsha Engineers will make its market debut tomorrow. The company's ₹755 crore IPO is the most subscribed public offer for the current year. Qualified institutional buyers showed a strong appetite for the IPO, while retail and high net-worth investors also tapped the issue robustly. The IPO received a massive 74.70 oversubscription overall. Currently, the GMP price of the issue is ₹170 per equity share. Harsha Engineers will list on BSE and NSE on Monday. In a statement, NSE on Harsha Engineers said, "the equity shares of the following company shall be listed and admitted to dealings on the Exchange w.e.f. September 26, 2022. Trading shall be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors." Harsha Engineers IPO The IPO had a price band of ₹314 and ₹330 per equity share. The IPO was launched on September 14 and was available till September 16. On the last day of the issue, the IPO was oversubscribed by 74.70 times. QIBs were the top investors as the portion reserved for this category oversubscribed by a whopping 178.26 times, while the portion for the NII category (HNIs) subscribed by 71.32 times. The reserved portion for retail individual investors was oversubscribed by 17.63 times. What do experts say about Harsha Engineers? In an IPO note, Avinash Kumar Pathak Research Analyst at LKP Securities said, " The company with its strong market share in precision bearing cages and being one of the leading player...

Synopsis Ahmedabad-based Harsha Engineers has five manufacturing facilities with two facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, and one manufacturing unit each at Changshu (China) and Ghimbav Brasov (Romania).It claims to have a 50 per cent market share in the organised segment of the Indian bearing cages market and a 5.2 per cent market The company is looking to raise Rs 755 crore, which consists of a fresh issue of shares worth Rs 455 crore and an offer for sale (OFS) by promoters of Rs 300 crore. Analysts tracking the grey market are citing sound fundamentals, growth prospects, higher market share and reasonable valuations as reasons behind lofty valuations. It claims to have a 50 per cent market share in the organised segment of the Indian bearing cages market and a 5.2 per cent market share in the global organised bearing cages market for brass, steel and polyamide cages as of 2020. Dinesh Gupta, co-founder of UnlistedZone said the company is launching its shares at reasonable valuations compared to peers. "It has left something on the table for investors." However, these are just initial trends and one should wait for the bidding process for the IPO to conclude, said analysts. Harsha Engineers 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 more. The company, which serves in mo...

The initial public offering (IPO) of Harsha Engineers International Ltd, will open for bidding on 14 September. The precision bearing cages manufacturer has set a price band of Rs 314-330 per share for its maiden public issue which will remain open for subscription till Friday, 16 September. The company plans to raise Rs 755 crore through this IPO. The anchor book will open on Tuesday, 13 September. Axis Capital, Equirus Capital and JM Financial are the lead managers to the issue. The shares of the company were trading in the grey market at a premium of Rs 140-150 a share, according to experts. The IPO consists of a fresh issue of Rs 455 crore and an offer for sale (OFS) of up to Rs 300 crore by shareholders and promoters. As part of the OFS, Rajendra Shah is looking to offload shares worth up to Rs 66.75 crore, Harish Rangwala up to Rs 75 crore, Pilak Shah up to Rs 16.50 crore, Charusheela Rangwala up to Rs 75 crore and Nirmala Shah up to Rs 66.75 crore. Investors can make a bid for a minimum of 45 equity shares and in multiples thereafter. The company is offering a discount of Rs 31 per equity share to its eligible employees. Up to 50 per cent of the total offer is reserved for qualified institutional buyers, and 15 per cent for non-institutional investors. The remaining 35 per cent stake is allocated to the retail investors. The IPO shares are likely to be credited to successful allottees’ demat accounts on September 23 and the company is expected to make its market deb...