Harsha engineers ipo gmp chittorgarh

Harsha Engineers IPO: Subscription Status Retail individual investors’ category received 2.28 times subscription, while the quota for non-institutional investors was subscribed 3.60 times. The category for qualified institutional buyers (QIBs) got 0.05 times subscription. Harsha Engineers IPO: Price Band The price band has been fixed at Rs 314-330 per share for its initial share sale. Harsha Engineers IPO 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, Harish Rangwala (up to Rs 75 crore), Rajendra Shah (up to Rs 66.75 crore), Pilak Shah (up to Rs 16.5 crore), Charusheela Rangwala (up to Rs 75 crore) and Nirmala Shah (up to Rs 66.75 crore) will offload shares, according to the information provided in the red herring prospectus (RHP). Harsha Engineers IPO: Objective The proceeds from the fresh issue will be utilised for debt payment, funding working capital requirements towards purchase of machinery, infrastructure repairs and renovation of the existing production facilities and for general corporate proposes. Harsha Engineers International Ltd is the largest manufacturer of precision bearing cages, with 50-60% market share in the organized market. It offers diversified suite of precision engineering products across geographies and end-user industries. It operates under 2 business divisions – engineering business and solar EPC business. Harsha Engineers I...

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...

Harsha Engineers International latest IPO GMP Today is ₹125(+/-5), last updated on Sep 26th 2022 10:10 AM. Given at the price band of 330, the estimated listing price for the Harsha Engineers International IPO is ₹455 (cap price + today's GMP). The expected gain/loss per share in terms of percentage is 37.88%.• Harsha Engineers International IPO Retail Subject to Sauda: ₹7000 • Harsha Engineers International IPO Small HNI Subject to Sauda: ₹75000 • Harsha Engineers International IPO Big HNI Subject to Sauda: ₹75000 We update GMP on daily basis and based on the last 18 sessions grey market activities, Today's IPO GMP trend indicates Upside and expects a strong listing. With this, retail investors should apply in this IPO with full force. The lowest GMP is recorded at ₹0 while the highest GMP is ₹238. Stay tuned with us to know the day-by-day Harsha Engineers International IPO GMP Performance along with its expected listing price. Harsha Engineers International Day-wise IPO GMP Trend GMP Date GMP S2S Estimated Listing Price Last Updated Time 26-09-2022 ₹125 7000 ₹455 (37.88%) 26-Sep-2022 09:10:24 AM 24-09-2022 ₹162 7300 ₹492 (49.09%) 24-Sep-2022 05:08:07 PM 23-09-2022 ₹150 7200 ₹480 (45.45%) 23-Sep-2022 08:31:58 PM 22-09-2022 ₹170 8000 ₹500 (51.52%) 22-Sep-2022 06:58:46 PM 21-09-2022 ₹180 8000 ₹510 (54.55%) 21-Sep-2022 07:34:01 PM 20-09-2022 ₹205 7500 ₹535 (62.12%) 20-Sep-2022 05:23:11 PM 19-09-2022 ₹234 8000 ₹564 (70.91%) 19-Sep-2022 09:13:20 AM 18-09-2022 ₹220 8500 ₹550 (6...

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...

Harsha Engineers Harsha Engineers IPO: Price Band Harsha Engineers IPO: Objective Proceeds from the fresh issue of the Harsha Engineers IPO to the tune of up to Rs 270 crore will be utilised for debt payment, up to Rs 76 crore for funding working capital requirements towards the purchase of machinery, up to Rs 7.12 crore for infrastructure repairs and renovation of the existing production facilities and for general corporate proposes. Risks Harsha Engineers has an unrelated business of solar EPC which has been merged with the company as a part of reorganisation. Any incremental investment in the solar EPC business may dilute the blended margin of the company. The company’s revenue is highly dependent on a few large customers. Any adverse development or significant reduction in business from these customers may adversely affect Harsha’s financial condition. Harsha Engineers IPO: Financials Harsha Engineers’ revenue from operations increased by 51.24 per cent to Rs 1,321.48 crore for fiscal 2022, from Rs 873.75 crore for fiscal 2021, while profit after tax doubled to Rs 91.94 crore for fiscal 2022, from Rs 45.44 crore for fiscal 2021. Axis Capital, Equirus Capital, and JM Financial are the book-running lead managers to the issue. Harsha Engineers IPO: GMP Today As per market observers, Harsha Engineers shares are commanding a premium (GMP) of Rs 212 in the grey market today. The company’s shares are expected to list on leading stock exchanges BSE and NSE on Monday, September...

Jitendra Ujamsi Mamtora Independent Director and the Chairman He is an Independent Director and the Chairman of our Company. He holds a bachelor’s degree in Electrical Engineering from Jalpaiguri Government Engineering College. In the year 1981, he started Transformers & Rectifiers (India) Limited and has been associated with it as one of its directors since 1994. He is also an Executive Council Member of Indian Electrical & Electronics Manufacturers’ Association (“IEEMA”) and has been associated with the IEEMAas one of its directors for a period of four years. He has over 35 years of experience in the manufacturing industry. Shri Harish Rangwala Managing Director Shri Harish Rangwala is the Managing Director of our Company. He holds a bachelor’s degree in Mechanical Engineering from Lukhdhirji Engineering College, Morbi. He served at Tata Chemicals and thereafter joined our Company. Currently, he is looking after overall management of our Company along with Renewable energy division. He has over 35 years of experience in the precision engineering business for bearing cages and stamped components. Shri Rajendra Shah Chairman and Whole-time Director Shri Rajendra Shah is the Chairman and Whole-time Director of our Company. He holds a bachelor’s degree in Mechanical Engineering from Lukhdhirji Engineering College, Morbi. He was awarded the AMA Atlas Dycechem “Outstanding Entrepreneur of the Year Award 2001” by the Ahmedabad Management Association. Currently, he is looking af...

Harsha Engineers IPO: Harsha Engineers International, manufacturer of precision bearing cages, share sale via initial public offering began today (September 14, Wednesday) and will end on September 19 (Friday). The company is planning to raise Rs 755 crore from the IPO which is a mix of fresh issue and offer for sale by existing shareholders. The IPO was fully subscribed by retail investors and nin-institutional investors. Harsha Engineers IPO Price Band Harsha Engineers is selling shares in price band of Rs 314-330 per share and retail investors can bid for minimum one lot of 45 shares up to maximum of 13 lots at the upper end of the price band one lot of Harsha Engineers shares will cost Rs 14,850. Harsha Engineers has reserved 50 per cent of shares in the IPO for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors which include High Net Worth Individuals and 35 per cent for Retail Investors. Harsha Engineers IPO Issue Size The Rs 755-crore 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, Rajendra Shah, Harish Rangwala, Pilak Shah, Charusheela Rangwala and Nirmala Shah will offload shares. The offer also includes a reservation for subscription by eligible employees. Proceeds from the fresh issue to the tune of up to Rs 270 crore will be utilised for debt payment, up to Rs 76 crore for funding working capital ...