Harsha Engineers IPO becomes the most subscribed IPO of this year

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Harsh engineer ipo

Harsha Engineers IPO GMP today suggests that the clients will see a strong start. Harsha Engineers is now available at a premium price of Rs 215. Harsh Engineers IPO allotment is expected on September 21.

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Harsh Engineers share market launch

Market analysts believe that the initial public offering (IPO) of Harsha Engineers, the shares may be successful in the public markets. Harsha Engineers is expected to be listed on September 26, 2022. The company will be listed on both NSE and BSE.

Harsh Engineers IPO GMP

Harsh Engineers International’s Initial Public Offering (IPO) was subscribed 74.70 times on Friday, 19 September 2002 due to heavy demand from institutional buyers.

According to NSE data, bids were made for 125.96 crore shares in the public issue. 1.68 crore shares were on offer.

The quota subscription was 178.26x for Qualified Institutional Buyers (QIBs), and 71.32x for non-institutional investors.

The retail individual investors category was subscribed 17.63 times.

A fresh issue of Rs 455 crore was issued for the IPO, with an offer to sell for Rs 300 crore.

The offer price was Rs 314-330 per share.

The proceeds of the new issue will be used for loan payments up to Rs. 270 crore, for working capital requirements for purchasing machinery, and Rs. 7.12 crore for repair and refurbishment of existing production facilities.

How to check Harsha Engineering IPO allotment

Investors are eagerly waiting for the Harsha Engineers International IPO share allotment date. According to the red herring prospectus, Wednesday 21 September 2022, the company will likely complete the allotment. In case Harsh Engineers IPO is out, here’s how to check the status of your allotment once it is announced.

The allotment status will be updated on the website of the Registrar of IPOs, which in this case is the link Intime India (click here): https://linkintime.co.in/MIPO/Ipoallotment.html, In the drop-down menu, applicants have to choose Harsh Engineers International Limited – IPO and enter either their PAN or Application Number. Click on Search to see their allotment status.

Applicants can also check the status of their allotment on the website of BSE apart from the website of the Registrar (Click here): https://www.bseindia.com/investors/appli_check.aspx, They will be asked to choose Equity in the issue type. Next, select Harsh Engineers International Limited from the drop-down menu in the Issue Name section. Finally, they will be asked to enter their application number and/or PAN number. Next, they have to tick the box indicating that they are not robots and click on search to see their status.

Harsha Engineers International details

Harsha Engineering International Limited

Harsha Engineers is the largest manufacturer of precision bearing cages in India and a world leader in precision bearing cage manufacturing. The company offers a wide range of precision engineering products that can be used in a variety of industries and geographies.

It has around 50-60% market share in organized bearing cage segment in India and 6.5% in global organized bearing custodian market for brass, steel and polyamide cages in CY 2020

, The company’s revenue grew strongly to Rs 1,321.5 crore in FY22. With Rs 873.7 crore for FY 2011 and Rs 885.8 million for FY 2010. PAT increased to Rs 91.9 crore in FY 2012, as compared to Rs 45.4 crore in FY 2011 or Rs 21.9 million in FY 2010. The EBITDA margin and PAT margin of the company stood at 14.1% and 6.9% respectively as on March 31, 2022.

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