Harsha ipo gmp today

The company's grey market premium has been wiped off by one-third on the back of rising weakness in the market and inflation fears. That said, the company is expected to deliver a strong listing pop. Global market selloff could dent Harsha's listing prospects, said Abhay Doshi, co-founder, UnlistedArena. Harsha Engineers raised Rs 755 crore via its initial stake sale, which remained open for subscription between September 14-16. The company sold its shares in the range of Rs 314-330 apiece. The issue was overall subscribed 74.7 times, with the quota of QIB investors fetching a whopping 178.26 times subscription. Portions for HNI, retailers and employees were subscribed 71.32 times, 17.63 times and 12.07 times, respectively. The company will make its debut on Monday, September 26. Prashanth Tapse, Research Analyst Sr VP Research, Mehta Equities said despite uncertainty in the equity markets, Harsha Engineers is signalling a strong debut with a significant premium. "Considering the excellent response from the investor category, we assume that Harsha Engineers could list around Rs 480-500, which translates to a more than 45-51% premium over the upper end of the IPO price band," he added. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.

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.

Harsha Engineers IPO: After closure of three days subscription, all eyes are now set on the Harsha Engineers IPO allotment date, which is most likely on 21st September 2022. However, after strong response from investors, grey market is still giving strong signals in regard to the public offer worth ₹755 crore. According to market observers, shares of Harsha Engineers International Ltd is available at a premium of ₹215 in grey market today. Harsha Engineers IPO GMP today Market observers said that ₹215, which is ₹20 down from its Friday evening close price. They said that despite bloodbath on Dalal Street last Friday, grey market has remained positive about the Harsha Engineers IPO. It is still holding its ground and the stock has remained available above ₹200 premium for neat one week that means grey market is expecting strong listing of Harsha Engineers shares. What this Harsha Engineers IPO means? Market observers went on to add that Harsha Engineers IPO GMP today is ₹215 that means grey market is expecting that shares of the company may list around ₹545 ( ₹330 + ₹215), which is around 65 per cent higher from its price band of ₹314 to ₹330 per equity share. This means, grey market is expecting listing premium from Harsha Engineers IPO to the tune of 65 per cent today. However, stock market experts said that GMP is not an ideal indicator about the possible listing premium from an IPO. They said that GMP figures might be an artificial one as it involves even those who have...

Harsha Engineers Harsha Engineer IPO: Subscription Status Its qualified institutional buyer portion was subscribed 178.26 times, while the portion reserved for non-institutional investors saw a subscription of 71.32 times. The retail investors’ portion was subscribed 17.63 times. Harsha Engineer IPO Details The lot size of Harsha Engineers IPO was 45 shares. It means an investor needed to spend a minimum of Rs 14,850. A retail individual investor could submit bids for up to 13 lots or 585 shares by spending Rs 1,93,050. Harsha Engineers IPO’s price band was fixed at Rs 314-330 per share band. Axis Capital Limited, Equirus Capital Private Limited and JM Financial Consultants were the lead managers of the IPO. Harsha Engineer IPO GMP Today According to market observers, Harsha Engineers IPO GMP today is Rs 150, which means grey market is expecting that the public issue may list around Rs 480 ( Rs 330 + Rs 150), which is around 45 per cent higher from its upper price band of Rs 330 per equity share. Harsha Engineer IPO: What Do Analysts Say? Expecting strong gain from Harsha Engineering IPO listing, Astha Jain, Senior Research Analyst at Hem Securities said, “We are expecting Harsha Engineers shares to list at 40 to 45 per cent premium to issue price. We recommend booking partial profit while remaining can be kept for long term as the company being comprehensive solution provider offering diversified suite of precision engineering products across geographies and end-user indu...

Check out Harsha Engineers IPO GMP aka IPO Grey Market Premium, Kostak rates, and Subject to Sauda rates as of today. Harsha Engineers IPO GMP is looking strong and stable around ₹240. The Harsha Engineers IPO may list between ₹550 to ₹600 range against the IPO price or ₹330 with expected return around 75% (Approx). Stay tuned for the latest IPO GMP numbers of Harsha Engineers IPO. Harsha Engineers IPO is to open on September 15, 2022. The company is to raise ₹755 crores via IPO which comprises a fresh issue of ₹455 crores and an offer for sale of up to ₹300 crores from promoters. 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. The company reported revenue of ₹877 crores in 2021 against revenues of ₹900 crores in 2020. The IPO price band is fixed at ₹314 to ₹330 Per Equity Share. The Harsha Engineers IPO to list on NSE and BSE. Harsha Engineers IPO Allotment Status What is Harsha Engineers IPO GMP T...