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Harsha Engineers International Ltd IPO (Harsha Engineers IPO) Detail

Sep 14, 2022 - Sep 16, 2022

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:

  1. Comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries.
  2. Long-standing relationships with leading clientele.
  3. Strategically located domestic and international production facilities and warehouses.
  4. Expertise in Tooling, design development and automation.
  5. Consistent track record of growth and financial performance.
  6. Strong, experienced and dedicated senior management team and qualified workforce.

Company Financials

Harsha Engineers International Ltd Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
31-Mar-19195117.9-27.411.41
31-Mar-20973.24899.521.91378.02
31-Mar-21981.07876.7345.44433.22
31-Mar-221158.25133991.94527.9
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 OfferedNot more than 50% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the Net Offer
Retail Shares OfferedNot 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
B-HNI (Min) 68 3,060 ₹1,009,800

Harsha Engineers IPO Promoter Holding

Pre Issue Share Holding 99.70%
Post Issue Share Holding 74.6

Harsha Engineers IPO Review

HEIL has posted improved financial performance for the reported periods of the offer document. It enjoys good long-term relations with its cream customers. The company has a virtual monopoly in its segment with the lion’s market share. Post listing the company may generate first mover fancy. Though the issue appears fully priced, it is worth considering for the medium to long term for handsome rewards. Read detail review...


Harsha Engineers IPO Subscription Status (Bidding Detail)

The Harsha Engineers IPO is subscribed 74.70 times on Sep 16, 2022 7:00:00 PM. The public issue subscribed 17.63 times in the retail category, 178.26 times in the QIB category, and 71.32 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB178.26
NII71.32
    bNII (bids above ₹10L)74.78
    sNII (bids below ₹10L)64.41
Retail17.63
Employee12.07
Total74.70

Harsha Engineers IPO Prospectus

Harsha Engineers IPO Rating

2125
4.2
Rating:Rated 4.2 stars
Vote Here ...

Harsha Engineers IPO Listing Date

Listing Date Monday, September 26, 2022
BSE Script Code 543600
NSE Symbol HARSHA
Listing In B Group of Securities
ISIN INE0JUS01029
IPO Price ₹330 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹330.00
₹444.00
₹431.00
₹527.60
₹485.90
NSE
₹330.00
₹450.00
₹430.00
₹527.65
₹486.50

Company Contact Information

Harsha Engineers International Ltd
NH-8A,
Sarkhej- Bavla Highway,
Changodar, Ahmedabad 382213
Phone: +91 2717-618200
Email: sec@harshaengineers.com
Website: http://www.harshaengineers.com/

Harsha Engineers IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: harshaengineers.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Harsha Engineers IPO FAQs

Harsha Engineers IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹755.00 Crores. The issue is priced at ₹314 to ₹330 per share. The minimum order quantity is 45 Shares.

The IPO opens on Sep 14, 2022, and closes on Sep 16, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Harsha Engineers IPO using UPI as a payment gateway. Zerodha customers can apply in Harsha Engineers IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Harsha Engineers IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Harsha Engineers IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Harsha Engineers IPO opens on Sep 14, 2022 and closes on Sep 16, 2022.

Harsha Engineers IPO lot size is 45 Shares and the minimum order quantity is .

You can apply in Harsha Engineers IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Harsha Engineers IPO will be done on Sep 21, 2022, and the allotted shares will be credited to your demat account by Sep 23, 2022. Check the Harsha Engineers IPO allotment status.

The Harsha Engineers IPO listing date is on Monday, September 26, 2022.
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