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Harsha Engineers International Ltd IPO (Harsha Engineers IPO) Detail

September 14, 2022 - September 16, 2022

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.

Harsha Engineers IPO Details

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 Reservation

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 OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered4,792,950 (28.42%)NA
NII (HNI) Shares Offered3,594,780 (21.32%)
  bNII > ₹10L2,396,520 (14.21%)3,804
  sNII < ₹10L1,198,260 (7.11%)1,902
Retail Shares Offered8,387,730 (49.74%)186,394
Employee Shares Offered88,335 (0.52%)NA
Total Shares Offered16,863,795 (100%)

Harsha Engineers IPO Timeline (Tentative Schedule)

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

Harsha Engineers IPO Lot Size

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

Harsha Engineers IPO Promoter Holding

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

About Harsha Engineers International Ltd

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

Key Performance Indicator

The market capitalization of Harsha Engineers IPO is Rs 3004.2 Cr.

Pre IPO Post IPO
P/E (x) 32.67

Objects of the Issue (Harsha Engineers IPO Objectives)

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 Review (Apply)

[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...


Harsha Engineers IPO Subscription Status (Bidding Detail)

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)

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 Details

Listing Date September 26, 2022
BSE Script Code 543600
NSE Symbol HARSHA
ISIN INE0JUS01029
Final Issue Price ₹330 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

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

Check IPO Performance…

Harsha Engineers International Ltd Contact Details

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/initial_offer/public-issues.html

Harsha Engineers IPO - Buy or Not

Harsha Engineers IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 17 1 0
Members 40 1 0

Read All Reviews Post Your Review Manage Reviews

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 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

  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 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.

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

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3642 Comments

1285. tri.vis |   Link |  Bookmark |November 10, 2022 1:36:51 PM (200+ Posts)
Lessons learnt from recent buying of shares like Harsha, Dreamfolks etc.
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)
1285.1. tri.vis |   Link |  Bookmark |November 10, 2022 3:12:25 PM (200+ Posts)
Also don't fall for FOMO
1285.2. JAI JAI GARVI GUJARAT |   Link |  Bookmark |November 12, 2022 11:15:47 AM
IPO Mentor IPO Mentor (800+ Posts, 300+ Likes)
Thank you
This will help me a lot
Most important following strictly stop loss & do not become too greedy
1284. ManishDwiv |   Link |  Bookmark |November 8, 2022 6:01:06 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
QoQ results are not good hence the selling..looks like with market sellingg ,issue price may come..
1283. Gaurav DD dimer |   Link |  Bookmark |November 8, 2022 2:51:33 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
They uploaded funds used details.

They Paid 200+ Crores Loan borrwing from multiple banks in 2nd Qtr.

3rd Qtr results will be good due to less interest expenses.
1282. tri.vis |   Link |  Bookmark |November 7, 2022 3:42:09 PM (200+ Posts)
Falling falling falling
Qhen6it will fly fly fly??
1282.1. tri.vis |   Link |  Bookmark |November 7, 2022 5:04:53 PM (200+ Posts)
**When it will fly?
1281. Rishikesh Bedre |   Link |  Bookmark |November 4, 2022 3:54:08 PM
Results are good. Lets hope it will fly now
1281.2. Rishikesh Bedre |   Link |  Bookmark |November 4, 2022 4:05:50 PM
Yes but lets see management outlook in the evening at 6:30pm. They have investors meet.
1281.3. Rishikesh Bedre |   Link |  Bookmark |November 5, 2022 1:36:09 PM
@Gaurav just went through the recording of investors meet. Qoq is slightly decline due to metal prices and crisis in europe. Rest company is very optimistic on growth.
1280. Gaurav DD dimer |   Link |  Bookmark |October 14, 2022 4:37:10 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Sold 3rd Lot Today. (Average selling price of all 3 Lots is 449).

Holding remaining 11 Lots.
1280.1. Gaurav DD dimer |   Link |  Bookmark |October 26, 2022 1:18:00 AM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Sold 4th Lot on 25th.

Average Selling Price of all 4 Lots is 444.40.

Holding Remaining 10 Lots.
1280.2. Gaurav DD dimer |   Link |  Bookmark |November 3, 2022 11:35:34 AM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Sold 5th Lot today.

Average Selling price of all 5 Lots ia 443.

Holding remaining 9 Lots.
1279. Naresh.Surat |   Link |  Bookmark |November 2, 2022 10:47:17 PM
Bought 100 @404…
1278. tri.vis |   Link |  Bookmark |October 31, 2022 11:41:08 AM (200+ Posts)
Harsha, kab uthega ???
Kab hoga 600??
1278.1. tri.vis |   Link |  Bookmark |October 31, 2022 3:21:35 PM (200+ Posts)
Below 400
Issue price coming??
1278.2. tri.vis |   Link |  Bookmark |November 2, 2022 7:24:26 PM (200+ Posts)
Today up by more than 6%
1277. Govind S |   Link |  Bookmark |October 31, 2022 11:36:49 AM
@Lokesh, Monster Zero
What is your view on Harsha Engineering.
I am holding 1063 shares at IPO price. What should be strategy before financial results. I am worried now as it is going down daily.
1276. Varaha |   Link |  Bookmark |October 28, 2022 1:59:41 PM
Sold all today
1275. tri.vis |   Link |  Bookmark |October 28, 2022 12:40:34 PM (200+ Posts)
Harsha & Dreamfolks in race for which one makes low early
🤣
1274. JEN |   Link |  Bookmark |October 25, 2022 10:51:38 PM
Harsha will complete 1 month after listing, so watch move on 27th.
1273. Gaurav DD dimer |   Link |  Bookmark |October 21, 2022 10:48:13 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Harsha Engineering Board Meeting on 4th November, 2022 for results updates.

Movement expected in Next Week.
1272. Kapz |   Link |  Bookmark |October 21, 2022 3:18:13 PM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
@experts, any views on why Harsha seems to be falling regularly, even when market is going up and shares seemed fairly priced?
1271. Varaha |   Link |  Bookmark |October 21, 2022 1:05:48 PM
@lokes, sir any view on this. I am holding 210 shares
1270. Rishikesh Bedre |   Link |  Bookmark |October 19, 2022 11:13:10 PM
UTI and motilal oswal are going to harsha engineers plant for investors meet tomorrow.
1269. Rishikesh Bedre |   Link |  Bookmark |October 19, 2022 11:12:24 PM
Harsha engineers have informed exchange that it is setting up hybrid power project of 2.7 mw for max clean company. The power plant is hybrid because it combination of windmill and solar panel.
1268. M.Kejriwal |   Link |  Bookmark |October 18, 2022 2:12:32 AM
Can anyone tell me the exact QIB lock in period date for Dreamfolks???
1267. tri.vis |   Link |  Bookmark |October 13, 2022 5:06:17 PM (200+ Posts)
Again below 450.
So testing lower levels or testing courage of small investors?
1267.4. MANU AGGARWAL |   Link |  Bookmark |October 17, 2022 12:19:37 PM
anyone---any thought provoking thoghful immature thoughts?????????????????
1267.5. Gujju IPO |   Link |  Bookmark |October 17, 2022 7:35:33 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Make a lower low pattern let's wait
1266. Smile. |   Link |  Bookmark |October 14, 2022 7:50:24 PM
IPO Guru IPO Guru (1400+ Posts, 700+ Likes)
ICICI mutual fund added 5.35L shares of Harsha.
1266.1. Not A Trader |   Link |  Bookmark |October 14, 2022 8:46:21 PM
Is it, may i know where to check the deal of this? I know about nse deals but not about bse