Harsha Engineers IPO GMP today is ₹ 200 per equity share, say market observers

Harsha Engineers IPO: The initial public offering (IPO) of Harsha Engineers International Ltd is going to hit primary markets on 14th September 2022 and it will remain open for subscription till 16th September 2022. The company which is largest manufacturer of precision bearing cages has fixed its public offer price at ₹ 314 to ₹ 330 per equity share and it is proposed to list on both BSE and NSE. Meanwhile, grey market is highly bullish on Harsha Engineers IPO. According to market observers, Harsha Engineers IPO GMP (grey market premium) today is ₹ 200.

Here we list out important Harsha Engineers IPO details:

- Harsha Engineers IPO GMP: According to market observers, shares of Harsha Engineers are available at a premium of ₹ 200 in grey market today.

- Harsha Engineers IPO subscription: The issue will open on 14th September 2022 and it will remain open on 16th September 2022.

- Harsha Engineers IPO price band: The company has fixed its offer price at ₹ 314 to ₹ 330 per equity share.

- Harsha Engineers IPO size: The company aims to raise ₹ 755 crore out of which ₹ 300 crore is expected via OFS route.

- Harsha Engineers IPO lot size: A bidder will be able to apply for the IPO in lots and one lot of the public issue will comprise 45 company shares.

- Harsha Engineers IPO allotment date: The tentative date for share allotment is 21st September 2022.

- Harsha Engineers IPO financials: The Ahmedabad-based company's revenue from operations increased by 51.24 per cent to ₹ 1321.48 crore for fiscal 2022 from ₹ 873.75 crore for fiscal 2021, primarily due to increase in its revenue from operations from engineering business, while profit after tax has increased by 102.35 per cent to ₹ 91.94 crore for fiscal 2022 from ₹ 45.44 crore for fiscal 2021, primarily due to increase in the revenue from operations from the engineering business and reduction in the operating loss of solar EPC business as well as gain on account of exchange rates.

- Harsha Engineers IPO Lead Managers: Axis Capital Limited, Equirus Capital Private Limited, and JM Financial Limited are the book running lead manager to the issue.

- Harsha Engineers IPO registrar: Link Intime India Private Limited has been appointed as official registrar of the public issue.

- Harsha Engineers IPO listing: The issue is proposed for listing on both NSE and BSE.

- Harsha Engineers IPO listing date: The tentative date for IPO listing is 26th September 2022.

The Ahmedabad-based company offers diversified suite of precision engineering products across geographies and end-user industries, which comprises of engineering business, under which it manufactures bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages & bronze bushings; and solar EPC business, under which it provides complete comprehensive turnkey solutions to all solar photovoltaic requirements.

As of March 31, 2022, has manufactured more than 7,205 bearing cages and more than 295 other products. In addition, over the past three years its product development and innovation center has developed more than 1,200 products in different bearing types.

The company has five strategically located 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 in Romania, which helps it to penetrate global markets more efficiently and in a cost effective manner and allow access to its customers in over 25 countries covering five continents i.e., North America, Europe, Asia, South America and Africa.

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