IPO | HARSHA ENGINEERS
Harsha Engineers IPO
Harsha Engineers International Ltd IPO
Under Harsha Group, Harsha Engineers International Limited supplies precision bearing cages in North America, South America, Europe, Asia & Aftrica including 25 countries all over the world. Harsha Engineers IPO comes in IPO market mainly for funding capital expenditure and pre-payment of scheduled loan.
Harsha Engineers International Ltd started in 2010 as as subsidiary of – Harsha Precision Bearing Components (China) Co. Ltd (China), HASPL Americas Corporation (USA), Harsha Engineers B.V. (Netherlands), Harsha Engineers Europe SRL (Romania).
Harsha Engineers supplying more than 1200 different bearing types to the companies in aviation & aerospace, railways, automotive, construction, agriculture, mining, electrical and electronics and renewables sectors.
The company has five manufacturing using all over the world. The business of Harsha Engineers mainly in two segments – Engineering Business and Solar EPC Business. Harsha Engineers manufacturing bearing cages in steel, brass under Engineering Business and comprehensive solutions to all solar photovoltaic requirements under Sola EPC Business.
Objective of the Issue Harsha Engineers IPO
- Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.
- Funding capital expenditure requirements towards purchase of machinery.
- Infrastructure repairs and renovation of our existing production facilities including office premises in India.
- General corporate purposes.
IPO Details of Harsha Engineers
|IPO Starting and Ending Date||14 Sep 2022 to 16 Sep 2022|
|Face Value||₹ 10.00|
||₹ 314 to ₹ 330 per share|
|Minimum Lot Size||45 Shares|
|Issue Size||[.] shares of ₹ 10
(aggregating up to ₹ 755.00 Cr)
||[.] shares of ₹ 10
(aggregating up to ₹ 455.00 Cr)
|Offer for Sale
||[.] shares of ₹ 10
(aggregating up to ₹ 300.00 Cr)
||Not more than 50%|
|NII / HNI Shares
||Not less than 15%|
||Not less than 35%|
|Category (Main Line / SME IPO)||Main Line IPO|
|Promoters||Rajendra Shah, Harish Rangwala, Vishal Rangwala, and Pilak Shah|
Harsha Engineers IPO GMP
|Harsha Engineers IPO GMP||As on 18 Sept 2022|
|GMP||₹ 240.00 (73%)|
|Estimated Listng Price||₹ 570.00|
Milestone of Listing of IPO
|IPO Opening Date||14 Sept 2022 from 10:00am|
|IPO Closing Date||16 Sept 2022 upto 05:00pm|
||22 Sept 2022|
|Listing Date||26 Sept 2022|
Lot Size of Harsha IPO
|Lot Size||Shares||App. Amount|
|Retail Minimum Size||1||45||14850.00|
|Retail Maximum Size||13||585||193050.00|
Harsha Engineers IPO Allotment Status
You can check allotment status of Harsha Engineers IPO now and link given below. IPO allotment process will take 6 working days from the closing of issue.
The registrar of Harsha Engineers is Link Intime India Private Limited.
Frequently Asked Questions – Harsha Engineers IPO
What is Harsha Engineers IPO?
The IPO of Harsha Engineers is a main stream IPO with face value of ₹10 aggregating up to ₹755.00 Crores. The IPO price of Harsha Engineers will be ₹314 to ₹330 per share. The minimum order quantity for the retail portion is 45 Shares.
The IPO opens on 14 September 2022, and closes on 16 September 2022.
When will Open Harsha Engineers IPO?
The IPO opens on 14 September 2022.
When will Close Harsha Engineers IPO?
The IPO closes on 16 September 2022.
What is the Minimum and Maximum Lot Size of IPO?
Minimum Lot Size Retailer Portion is 45 Shares and Maximum is 585 Shares.
Minimum Lot Size HNI Portion is 630 Shares and Maximum is 3015 Shares.
When will list Harsha Engineers IPO?
Listing date is 26 Sept. 2022
How to apply for Harsha Engineers IPO?
You can apply in IPO online through ASBA by using either net banking or using UPI.
Open a Demat Account with ICICI Bank, SBI, HDFC Bank, Axis Bank, Motilal Oswal, Anand Rathi, Upstox, Zerodha etc.
You can apply ASBA IPO through ICICI Bank, HDFC Bank, SBI Bank. You can apply using UPI through Motilal Oswal, Anand Rathi, Eelweiss, Upstox, Zerodha.
About Harsha Engineers
Since its inception in 1986, Harsha Engineers International Limited* (Harsha) is the largest manufacturer of precision bearing cages in organized sector in India in terms of capacity and operations and amongst the leading manufacturers of precision bearing cages in the world with a market share of approximately 5% to 6% in the organized segment of the global brass, steel, polyamide bearing cages in terms of revenue.
Harsha Engineers is a technology driven company with a strong focus on research and development, which has allowed to develop products suited to their customers’ requirements. Harsha has the expertise to design and develop advance tooling in-house which enables to manufacture complex products.
Harsha’s principal production facilities are at Changodar and Moraiya, near Ahmedabad in Gujarat in India. Harsha Engineers also have production facility through subsidiary in Changshu, China and step down subsidiary in Ghimbav Brasov in Romania.
At Harsha, manufacturing excellence is driven on a philosophy of using new age technology to design and produce bearing cages and Stamped components with a focus on cost, quality and manufacturing flexibility.
Company tool room is equipped with machines like Hard Milling and Turning Machines, CNC Wire-cut and EDM Machines with rotary electrodes, Axis Machining centre and various high accuracy measuring instruments including CMMs to deliver precision quality products.
Harsha Engineers have a total of 1,775 employees, of whom approximately, 1,686 employees are skilled and technically qualified employees.
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