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    Harsha Engineers IPO Date, Price, GMP, Review, Details

    Get Harsha Engineers IPO details. Find IPO Date, Price, Live Subscription, Allotment, Grey Market Premium GMP, Listing Date, Analysis and Review.

    Incorporated in 2010, Harsha Engineers International Limited is the largest manufacturer of precision bearing cages, in terms of revenue in organised sector in India. The company is a part of the Harsha Group.

    The company supplies its products to customers in over 25 countries covering five continents i.e., North America, Europe, Asia, South America and Africa.

    The business comprises of two segments:

    1. Engineering business, under which the company manufactures bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages & bronze bushings.

    2. Solar EPC business, under which the company provide complete comprehensive turnkey solutions to all solar photovoltaic requirements and provides operations and maintenance services in the solar sector.

    As of September 30, 2021, Harsha Engineers International have been able to manufacture more than 7,205 bearing cages and more than 295 other products for customers in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics and renewables sectors. In addition, over the past three years company's product development and innovation centre has developed more than 1,200 products in different bearing types.

    The company has five manufacturing facilities for engineering business with two manufacturing facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, India and one manufacturing unit each in Changshu, China and Ghimbav Brasov in Romania.

    Harsha Engineers International Limited has three wholly owned subsidiaries, one in China -Harsha Precision Bearing Components (China) Co. Ltd, one in the United States of America -HASPL Americas Corporationand one in the Netherlands-Harsha Engineers B.V., and a stepdown subsidiary in Romania -Harsha Engineers Europe SRL.

    Compititve Strengths:

    Comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries.

    Long-standing relationships with leading clientele.

    Strategically located domestic and international production facilities and warehouses.

    Expertise in Tooling, design development and automation.

    Consistent track record of growth and financial performance.

    Strong, experienced and dedicated senior management team and qualified workforce.

    Company Financials

    Harsha Engineers International Ltd Financial Information (Restated)

    Period Ended Total Assets Total Revenue Profit After Tax Net Worth

    31-Mar-19 195 117.9 -27.41 1.41

    31-Mar-20 973.24 899.5 21.91 378.02

    31-Mar-21 981.07 876.73 45.44 433.22

    31-Mar-22 1158.25 1339 91.94 527.9

    Amount in ₹ Crore

    Objects of the Issue

    The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding of the following objects:

    (a) Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.

    (b) Funding capital expenditure requirements towards purchase of machinery.

    (c) Infrastructure repairs and renovation of our existing production facilities including office premises in India.

    (d) General corporate purposes.

    Harsha Engineers IPO Details

    Harsha Engineers IPO Date Sep 14, 2022 to Sep 16, 2022

    Harsha Engineers IPO Face Value ₹10 per share

    Harsha Engineers IPO Price ₹314 to ₹330 per share

    Harsha Engineers IPO Lot Size 45 Shares

    Issue Size [.] shares of ₹10

    (aggregating up to ₹755.00 Cr)

    Fresh Issue [.] shares of ₹10

    (aggregating up to ₹455.00 Cr)

    Offer for Sale [.] shares of ₹10

    (aggregating up to ₹300.00 Cr)

    Employee Discount Rs 31 per Equity Share

    Issue Type Book Built Issue IPO

    Listing At BSE, NSE

    QIB Shares Offered Not more than 50% of the Net Offer

    NII (HNI) Shares Offered Not less than 15% of the Net Offer

    Retail Shares Offered Not less than 35% of the Net Offer

    Company Promoters

    Rajendra Shah, Harish Rangwala, Vishal Rangwala, and Pilak Shah are the company promoters.

    Harsha Engineers IPO Timeline (Tentative Timetable)

    Harsha Engineers IPO opens on Sep 14, 2022, and closes on Sep 16, 2022. The Harsha Engineers IPO bid date is from Sep 14, 2022 10.00 A.M. to Sep 16, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

    Event Date

    Harsha Engineers IPO Opening Date Sep 14, 2022

    Harsha Engineers IPO Closing Date Sep 16, 2022

    Basis of Allotment Sep 21, 2022

    Initiation of Refunds Sep 22, 2022

    Credit of Shares to Demat Sep 23, 2022

    Harsha Engineers IPO Listing Date Sep 26, 2022

    Harsha Engineers IPO Lot Size

    The Harsha Engineers IPO lot size is 45 shares. A retail-individual investor can apply for up to 13 lots (585 shares or ₹193,050).

    Application Lots Shares Amount

    Retail (Min) 1 45 ₹14,850

    Retail (Max) 13 585 ₹193,050

    S-HNI (Min) 14 630 ₹207,900

    स्रोत : www.chittorgarh.com

    Harsha Engineers IPO share allotment announced. Latest GMP, how to check status

    Harsha Engineers IPO GMP today is ₹240, say market observers

    Harsha Engineers IPO share allotment announced. Latest GMP, how to check status

    Premium

    Harsha Engineers IPO allotment status can be checked online by logging in at BSE website or at Link Intime web link. Photo: Courtesy Harsha Engineers International Limited website

    1 min read . Updated: 22 Sep 2022, 05:24 AM IST

    Asit Manohar

    Harsha Engineers IPO GMP today is ₹240, say market observers

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    स्रोत : www.livemint.com

    Harsha Engineers IPO Allotment: Here's how to check allotment status & GMP

    The Rs 755-crore Harsha Engineers IPO consists of the issuance of fresh equity shares worth Rs 455 crore, whereas existing shareholders and promoters will offload Rs 300 crore from the stake via an offer for sale (OFS).

    Harsha Engineers IPO Allotment: Here's how to check allotment status & GMP

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    Harsha Engineers IPO Allotment: Here's how to check allotment status & GMP

    By Pawan Nahar, ETMarkets.comLast Updated: Sep 21, 2022, 03:41 PM IST

    Share Font Size Save Print 1Comment Synopsis

    The Rs 755-crore Harsha Engineers IPO consists of the issuance of fresh equity shares worth Rs 455 crore, whereas existing shareholders and promoters will offload Rs 300 crore from the stake via an offer for sale (OFS).

    Agencies

    Harsha Engineers International (HEIL), whose initial public offering (IPO) received an astounding response during the three-day bidding process, is likely to finalise its allotment status on Wednesday, September 21.

    The Rs 755-crore IPO consists of issuance of fresh equity shares worth Rs 455 crore, whereas existing shareholders and promoters will offload Rs 300 crore from the stake via offer for sale (OFS).

    Harsha Engineering 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 has five manufacturing facilities with two of its principal facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, and one manufacturing unit each at Changshu in China and Ghimbav Bra?ov în România.

    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 in the year 2020.

    Last heard, the shares of Harsha Engineers International were commanding a premium of Rs 195-205 in the grey market. The premium in the unofficial market has been declining since the conclusion of the issue.

    The company's Rs 755 crore primary offering was sold in the range of Rs 314-330 per equity share. The issue had received a robust response from all the categories of investors, subscribing 74.7 times between September 14-16.

    The quota reserved for qualified institutional buyers (QIBs) was subscribed a whopping 178.26 times, while the one reserved for non-institutional investors (NIIs) and retailers was subscribed 71.32 times and 17.63 times, respectively.

    The majority of the brokerages remain positive on the issue and suggest subscribing to it. However, a few have flagged rising prices of raw materials and dependency on major clients as key concerns.

    Investors, who had bid for the issue, can check the allotment status on BSE website:

    1) Visit https://www.bseindia.com/investors/appli_check.aspx

    2) Under the issue type, click Equity

    3) Under the issue name, select Harsha Engineers International Ltd in the dropbox

    4) Write the application number

    5) Add the PAN card ID

    6) Click on 'I am not a Robot' and hit submit.

    You can also check the allotment status on the online portal of Link Intime India

    Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

    The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.

    The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.

    1) Go to the web portal of Link Intime India Private Limited

    2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

    3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID

    4) In application type, select between ASBA and non-ASBA

    5) Enter the details of the mode you selected in Step 2

    6) For security purposes, fill the captcha accurately

    7) Hit submit

    When will Harsha Engineers IPO shares be credited in demat?

    Bidders who could not get allotment in the IPO may see the initialization of refunds on September 22. Others, who would be allotted shares may see the credit of shares in the demat account by September 23.

    When will Harsha Engineers IPO list?

    The listing of the IPO is likely on September 26.

    ( Originally published on Sep 20, 2022 )

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