Harsha ipo

Harsha Engineers IPO date is fixed, the IPO is to open on September 14, 2022 and will close on September 16, 2022. Harsha Engineers IPO to raise around ₹755 crores via IPO that comprises fresh issue of ₹455 crores and offer for sale up to ₹300 crores of ₹10 each. The retail quota is 35%, QIB is 50%, and HNI is 15%. Harsha Engineers International Limited aka Harsha is one of the largest manufacturers of precision bearing cages in the organized sector in India. The company was incorporated in 2010. The company is a part of the Harsha Group. The company is amongst the leading manufacturers of precision bearing cages in the world with a market share of approximately 5% to 6% in the organized segment of the global brass, steel, and polyamide bearing cages in terms of revenue. The product range includes Brass Cages, Steel Cages, Polyamide Cages, and Stamped Components. They supply their products in over 25 countries covering five continents. They have their manufacturing facilities at Changodar and Moraiya, near Ahmedabad in Gujarat in India. They also have a production facility through a subsidiary in Changshu, China, and a step-down subsidiary in Ghimbav Brasov in Romania. They have two segments of businesses – The engineering business and the Solar EPC business. They supply their products in the industries such as automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, and renewables sectors. The company has good relationship...

Review By Dilip Davda on Sep 10, 2022 •HEIL is the largest manufacturer of precision bearing cages. •It has marked growth in its earnings year on year. •Based on its FY22 earnings, the issue is fully priced. •It may generate a fancy post listing being a first mover in the segment. •Investment may be considered for the medium to long term. PREFACE: Harsha Engineers Ltd. filed its DRHP in August 2018 with two BRLMs, but it scrapped the IPO process later on. It refiled DRHP post-merger/acquisition process under the new name as Harsha Engineers International Ltd. in February 2022 with three BRLMs and is now finally entering the capital market with its maiden issue. It changed BRLMs between the last two filings. This issue was eagerly awaited by investors across the board due to its niche play in the segment enjoying virtual monopoly. Considering its financial performance and future prospects, this IPO is a medium to long-term bet for better rewards going forward. However, the company has evoked good fancy in the primary market so far. ABOUT COMPANY: Harsha Engineers International Ltd. (HEIL) is the largest manufacturer of precision bearing cages, in terms of revenue, in the organized sector in India, and among the leading manufacturers of precision bearing cages in the world. (Source: CARE Advisory Report). It offers a diversified suite of precision engineering products across geographies and end-user industries. HEIL's business comprises: (i) engineering business, under which...

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...

Leading precision bearing cages manufacturer Harsha Engineers International on September 21 finalised the IPO share allotment, which was eagerly awaited by investors especially after healthy response to the initial public offering last week. Investors can check their allotment status online, either on the BSE website or on the portal of IPO registrar. Here's a step-by-step guide: On the BSE website: a) Select issue type 'equity' and issue name 'Harsha Engineers International Limited' b) Enter either 'application number' or 'PAN number' c) Click on the check box "I'm not a robot" and finally click on 'search' button Alternatively, the allotment can also be checked on the IPO registrar's website: a) Select company 'Harsha Engineers International Limited - IPO' b) Either enter your 'PAN number', or 'application number', or DP/Client ID, or account number/IFSC' c) And finally click on 'submit' button. Click Here To Read All IPO Related News Since the share allotment has been finalised, the refunds will be credited to the bank accounts of unsuccessful investors by September 22, and those who have won the bid will receive shares in their demat accounts by September 23. Shares of Harsha Engineers will make their stock market debut on September 26 as per the schedule. The company came out with a public issue to raise Rs 755 crore which comprised a fresh issue of Rs 455 crore and an offer for sale of Rs 300 crore by promoters. The price band for the offer, which opened for subscrip...

Harsha Engineers International will be the 20th initial public offering in the current year, opening for subscription on September 14. Since August, four issues have been launched. Here are 10 things to know about the public issue: 1) IPO Dates The company will open its maiden public issue for subscription on September 14, and the offer will close on September 16. Anchor book of the offer opened on September 13, a day before issue opening. 2) Public Issue Size Harsha Engineers plans to garner Rs 755 crore through its public issue. The offer comprises a fresh issue of Rs 455 crore, which is 60 percent of the total offer size, and the rest of Rs 300 crore will be an offer for sale by promoters. Rajendra Shah and his wife Nirmala Shah will offload shares worth Rs 66.75 crore each through offer for sale, while Rs 75 crore worth shares each will be sold by Harish Rangwala and his wife Charusheela Rangwala. Pilak Shah, the son of Rajendra Shah, will be selling shares worth Rs 16.5 crore. The company has reserved shares worth Rs 2.5 crore of the offer for its employees, who will get those shares at a discount of Rs 31 per share to the final offer price. Click Here To Read All IPO Related News 3) Price Band The price band for public issue has been fixed at Rs 314 to Rs 330 per share. 4) Reservation of shares for investors and Lot Size Half of the offer size is reserved for qualified institutional buyers (including anchor book), 15 percent for non-institutional investors, and the r...

The Rs 760 crore initial public offering (IPO) of Harsha Engineers International is set to open for public bidding on September 14. The IPO is a combination of fresh issue and offer for sale by shareholders. The company is the largest manufacturer of precision bearing cagesby revenue in India. It also has a solar EPC (engineering, procurement, and construction) business under which it provides turnkey solutions for solar photovoltaic requirements. Most analysts are positive about the issue thanks to the diverse product portfolio and strong expertise of Harsha Engineers. They advise investors to apply for the IPO. “At the higher end of the price band - Rs 330 - Harsha Engineers is valued at 27.7 times FY22 earnings which in our view is reasonable compared to its peers,” said Avinash Kumar Pathak of LKP Research who has a subscribe recommendation. “The company with its strong market share in precision bearing cages and being one of the leading players globally in organised bearing cages, provides healthy return ratios and visibility going ahead.” Analysts noted that Harsha Engineers has a strong relationship with customers who are leading global bearing manufacturers in automotive, railways, aviation and aerospace, construction, mining, agriculture, electrical and electronics, renewables sectors. Choice Broking, which also has a subscribe rating, said the company is demanding enterprise value/sales multiple of 2.2 times, which is a discount to peer average of 5.6 times. “Thu...

The share allotment status of Harsha Engineers International Ltd IPO has been finalised and can be checked by the investors today online. All you need to do is visit the official website of BSE and the registrar to the IPO Link Intime. Meanwhile, according to market observers, Harsha Engineers IPO GMP (grey market premium) is trading at a premium of Rs. 240, as per a It can be known that the Rs. 755 crore Harsha Engineers IPO was subscribed 74.70 times on the last day of the bidding process. On the third day of the subscription process, the portion reserved for QIBs received bids 178.26 times, followed by NII category (HNIs) which was subscribed by 71.32 times, and retail individual investors which was oversubscribed by 17.63 times. Here is how you can check the share allotment status online: 2. Select Harsha Engineers IPO in the menu. 3. Enter your application number allotted for Harsha Engineers IPO. 4. Then enter your Permanent Account Number (PAN card number). 5. Click at 'I'm not a robot' and confirm the captcha. 6. At last click at the 'Submit' button. You will be able to see the Harsha Engineers IPO allotment status displayed on the screen.

The initial public offer (IPO) of Harsha Engineers got fully subscribed on the first day of subscription on Wednesday. Harsha Engineers International, a manufacturer of precision bearing cages, has fixed the price band at ₹314-330 per share for its ₹755-crore initial share sale. The public issue will conclude on Friday, September 16, 2022. The ₹755-crore ₹455 crore, and an offer-for-sale (OFS) of up to ₹300 crore by existing shareholders. "At the higher price band of Rs330, HEIL is valued at 27.7x FY22 earnings of ₹11.9 which in our view is reasonable compared to its peers. The company with its strong market share in precision bearing cages and being one of the leading players globally in organized bearing cages, having strong clientele with long standing relationship provides healthy return ratios and visibility going ahead. We recommend investors to SUBSCRIBE to the IPO of HEIL," said brokerage LKP Securities. Proceeds from the fresh issue to the tune of up to ₹270 crore will be utilised for debt payment, up to ₹76 crore for funding working capital requirements towards purchase of machinery, up to ₹7 crore for infrastructure repairs and renovation of the existing production facilities and for general corporate proposes. Based in Ahmedabad, the company has five manufacturing facilities with two of its principal manufacturing facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat in India, and one manufacturing unit each at Changshu, China and Ghimbav Brasov...

The IPO was a mix of a fresh issue of shares aggregating to ₹455 crore and an offer for sale of up to ₹300 crore. On Tuesday, the company raised ₹226 crore from anchor investors ahead of its public issue by allotting 68.41 lakhs shares to institutions. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.

The initial public offering (IPO) of leading precision bearing cages manufacturer Harsha Engineers International continued to attract strong response from investors. The issue was subscribed 74.7 times, garnering bids for 125.97 crore equity shares against offer size of 1.68 crore shares, on September 16, the final day of bidding. The strong response was seen from non-institutional investors, putting in bids 71.32 times the allotted quota, followed by retail investors subscribing 17.63 times the portion set aside for them. Employees of the company also showed great interest in the IPO , putting in bids 12.07 times the reserved portion. Shares worth Rs 2.5 crore have been set aside for the company staff who will also get a discount of Rs 31 a share to the final price. Catch live market updates here The portion set aside for qualified institutional buyers got fully subscribed on the second day of IPO subscription on Thursday. On Friday, the last day, they have bought 178.26 times the allotted quota. Harsha Engineers International, which enjoys the 60 percent market share in India's precision bearing cages manufacturing, plans to raise Rs 755 crore through its public issue. The IPO comprises a fresh issue of Rs 455 crore and an offer for sale of Rs 300 crore by promoters. Also Read Moneycontrol's Exclusive Research Note on Harsha Engineeers IPO The fresh issue money will be utilised for repaying debts, purchase of machinery, infrastructure repairs and renovation of existing p...