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Harsha Engineers IPO is a book built issue of Rs 755.00 crores. The issue is a combination of fresh issue of Rs 455.00 crores and offer for sale of Rs 300.00 crores.
Harsha Engineers IPO bidding started from September 14, 2022 and ended on September 16, 2022. The allotment for Harsha Engineers IPO was finalized on Wednesday, September 21, 2022. The shares got listed on BSE, NSE on September 26, 2022.
Harsha Engineers IPO price band is set at ₹314 to ₹330 per share. The minimum lot size for an application is 45 Shares. The minimum amount of investment required by retail investors is ₹14,850. The minimum lot size investment for sNII is 14 lots (630 shares), amounting to ₹207,900, and for bNII, it is 68 lots (3,060 shares), amounting to ₹1,009,800.
The issue includes a reservation of up to 88,335 shares for employees offered at a discount of Rs 31 to the issue price.
Axis Capital Limited, Equirus Capital Private Limited and Jm Financial Limited are the book running lead managers of the Harsha Engineers IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Harsha Engineers IPO RHP for detailed information.
| IPO Date | September 14, 2022 to September 16, 2022 |
| Listing Date | September 26, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹314 to ₹330 per share |
| Lot Size | 45 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹755.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹455.00 Cr) |
| Offer for Sale | [.] shares of ₹10 (aggregating up to ₹300.00 Cr) |
| Employee Discount | Rs 31 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Harsha Engineers IPO offers 16,863,795 shares. 4,792,950 (28.42%) to QIB, 3,594,780 (21.32%) to NII, 8,387,730 (49.74%) to RII, 88,335 (0.52%) to employees. 186,394 RIIs will receive minimum 45 shares and 1,902 (sNII) and 3,804 (bNII) will receive minimum 630 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 4,792,950 (28.42%) | NA |
| NII (HNI) Shares Offered | 3,594,780 (21.32%) | |
| bNII > ₹10L | 2,396,520 (14.21%) | 3,804 |
| sNII < ₹10L | 1,198,260 (7.11%) | 1,902 |
| Retail Shares Offered | 8,387,730 (49.74%) | 186,394 |
| Employee Shares Offered | 88,335 (0.52%) | NA |
| Total Shares Offered | 16,863,795 (100%) |
Harsha Engineers IPO opens on September 14, 2022, and closes on September 16, 2022.
| IPO Open Date | Wednesday, September 14, 2022 |
| IPO Close Date | Friday, September 16, 2022 |
| Basis of Allotment | Wednesday, September 21, 2022 |
| Initiation of Refunds | Thursday, September 22, 2022 |
| Credit of Shares to Demat | Friday, September 23, 2022 |
| Listing Date | Monday, September 26, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 16, 2022 |
Investors can bid for a minimum of 45 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,850 |
| Retail (Max) | 13 | 585 | ₹193,050 |
| S-HNI (Min) | 14 | 630 | ₹207,900 |
| S-HNI (Max) | 67 | 3,015 | ₹994,950 |
| B-HNI (Min) | 68 | 3,060 | ₹1,009,800 |
| Lot Size Calculator | |||
Rajendra Shah, Harish Rangwala, Vishal Rangwala, and Pilak Shah are the company promoters.
| Share Holding Pre Issue | 99.70% |
| Share Holding Post Issue | 74.6 |
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:
| 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 | ||||
The market capitalization of Harsha Engineers IPO is Rs 3004.2 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 32.67 |
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.
[Dilip Davda] 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...
The Harsha Engineers IPO is subscribed 74.70 times on September 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)
| Category | Subscription (times) |
|---|---|
| QIB | 178.26 |
| NII | 71.32 |
| bNII (bids above ₹10L) | 74.78 |
| sNII (bids below ₹10L) | 64.41 |
| Retail | 17.63 |
| Employee | 12.07 |
| Total | 74.70 |
| Listing Date | September 26, 2022 |
| BSE Script Code | 543600 |
| NSE Symbol | HARSHA |
| ISIN | INE0JUS01029 |
| Final Issue Price | ₹330 per share |
| Price Details |
|---|
| Final Issue 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 |
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/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: harshaengineers.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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 September 14, 2022, and closes on September 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
Visit Zerodha IPO Application Process Review for more detail.
The Harsha Engineers IPO opens on September 14, 2022 and closes on September 16, 2022.
Harsha Engineers IPO lot size is 45 Shares, and the minimum amount required is ₹14,850.
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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Harsha Engineers IPO will be done on Wednesday, September 21, 2022, and the allotted shares will be credited to your demat account by Friday, September 23, 2022. Check the Harsha Engineers IPO allotment status.
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Don't be greedy, don't hope for toooo much gain and don't get influenced from over optimism.
Use own research.
And keep strict SL(which we never do)