IPO

Harsha Engineers International Limited

Mainboard

Other Industrial Products

Listed On: Sep 26, 2022 at ₹ 450.0(NSE)

₹ 14850 /45 Shares

Check Allotment

Price Summary

Last Closing

509.00 (54.24%)

52 Week High

613.85

52 Week Low

360.10

Last Update

20-Sep-2024 3:30 PM

IPO Live Subscription Details

Date
:
16 Sep 2022,06:58:00 PM
QIBs
:
178.26
NII
:
Bids above ₹10L: 74.78x
Bids below ₹10L: 64.41x
NII Total: 71.32
Retail
:
17.63x
Employee
:
12.07x
Total
:
74.70 times

IPO Details

14 Sep, 2022

Open Date

16 Sep, 2022

Close Date

21 Sep, 2022

Allotment Date

26 Sep, 2022

Listing Date

Issue Price

₹314-330 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

450.0(NSE)

Listing Date

2022-09-26

Market Lot

45 Shares (₹14,850/-)

Lead Manager

Axis Capital Limited, Equirus Capital Private Limited, JM Financial Consultants Private Limited

Issue Size

N/A shares of ₹10 (aggregating up to ₹755.00 Cr)

#Fresh Issue: N/A shares of ₹10 (aggregating up to ₹455.00 Cr)

#Offer for Sale: N/A shares of ₹10 (aggregating up to ₹300.00 Cr)

Retail Portion

35% (Number of Retail Applications : 1,77,290 Approx)

Subscription

74.70 times

IPO Docs

DRHP RHP

IPO Subscription Details

As onQIBNII
bNII   sNII
RetailTotal
Shares Offered / Reserved4,792,9503,594,780
2,396,520    1,198,260
8,387,73016,863,795
Day 1 - 14-09-22 05:00 PM0.06 x5.83
4.92 x   7.64 x
3.22 x2.87 x
Day 2 - 15-09-22 05:00 PM1.63 x24.91
22.38 x   29.96 x
9.14 x10.35 x
Day 3 - 16-09-22 05:00 PM178.26 x71.31
74.78 x   64.37 x
17.53 x74.65 x
Total No. of Applications: 2640527 (Approx)

Valuations

Earnings Per Share (EPS)

₹9.09/-

P/E Ratio

N/A

RoNW

10.49%

Net Asset Value (NAV) - As on 31.03.22

₹86.64

Company Financials All values are in ₹ Cr.

31-Mar-2231-Mar-2131-Mar-2031-Mar-19
Assets1158.25981.07973.24195
Revenue1339876.73899.5117.9
Profit After Tax91.9445.4421.91-27.41

About The Company

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.

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- Promoter(s)

Pre Issue Share Holding: 99.70%

Post Issue Share Holding: N/A%


Company Promoter(s)

  1. Rajendra Shah
  2. Harish Rangwala
  3. Vishal Rangwala
  4. Pilak Shah

IPO - Issue Objectives

  1. Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.
  2. Funding capital expenditure requirements towards purchase of machinery.
  3. Infrastructure repairs and renovation of our existing production facilities including office premises in India.
  4. General corporate purposes.

IPO - Anchor Investors

Harsha Engineers International mobilises Rs 225.74 crore from anchor investors ahead of IPO.

Marquee investors that participated in the anchor book included American Funds Insurance, Goldman Sachs, Pinebridge Global Funds, and Abu Dhabi Investment Authority.
Among others, Whiteoak Capital, HDFC Small Cap Fund, SBI MF, Franklin MF, UTI Infrastructure Fund, SBI Life Insurance, Nippon Life India Trustee, ICICI Prudential, DSP Small Cap Fund, and L&T Mutual Fund also invested in the company via anchor book.

IPO - FAQs

Ans. Harsha Engineers International Limited is a Mainboard IPO. The issue is priced at ₹314-330 per equity 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.

Ans. The Harsha Engineers International Limited opens on Sep 14, 2022 and closes on Sep 16, 2022.

Ans. The size of Harsha Engineers International Limited is N/A shares of ₹10 (aggregating up to ₹755.00 Cr) #Fresh Issue: N/A shares of ₹10 (aggregating up to ₹455.00 Cr) #Offer for Sale: N/A shares of ₹10 (aggregating up to ₹300.00 Cr).

Ans. The IPO price band is set between ₹314-330 per equity share.

Ans. To apply for Harsha Engineers International Limited IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Harsha Engineers International Limited in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Harsha Engineers International Limited is Sep 21, 2022.

Ans. The Harsha Engineers International Limited will be listed on Sep 26, 2022.

Ans. Follow the steps to check the allotment status for Harsha Engineers International Limited here.