The Harsha Engineers date has been confirmed from September 14, 2022 and ended on September 16, 2022.
Harsha Engineers Developers IPO is a fixed price issue of Rs 755.00 crores. The 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.
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Bidding Dates
September 14-16
Price Range
₹314 to ₹330 per share
Face Value
₹10 per share
GMP
₹395.60
Harsha Engineers IPO GMP
The Harsha Engineers IPO GMP is ₹395.60.
IPO Overview
Harsha Engineers’ IPO is a book-built issuance worth Rs 755.00 crores. The issue consists of a fresh issuance of Rs 455.00 crores and an offer for sale of Rs 300.00 crores. Harsha Engineers’ IPO bidding began on September 14, 2022 and closed on September 16, 2022. The allotment for Harsha Engineers’ IPO was finalised on Wednesday, September 21, 2022. The shares were listed on the BSE and NSE on September 26, 2022.
Harsha Engineers’ IPO price range is set at ₹314 to ₹330 per share. The minimum lot size for an application is 45 shares. The minimum investment for retail investors is ₹14,850. The minimum lot size investment for sNII is 14 lots (630 shares) for ₹207,900, while for bNII it is 68 lots (3,060 shares) worth ₹1,009,800. The issuance includes a reservation of up to 88,335 shares for employees, which are provided at a discount of Rs 31 from the issue price.
The company has five manufacturing facilities for the engineering business, with two in Changodar and one in Moraiya, near Ahmedabad in Gujarat, India, and one each in Changshu, China, and Ghimbav Brasov, 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 (HASPL Americas Corporation), one in the Netherlands (Harsha Engineers B.V.), and a stepdown subsidiary in Romania (Harsha Engineers Europe SRL).
Compititve Strengths:
- Comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries.
- Long-standing relationships with leading clientele.
- Strategically located domestic and international production facilities and warehouses.
- Expertise in Tooling, design development and automation.
- Consistent track record of growth and financial performance.
- Strong, experienced and dedicated senior management team and qualified workforce.
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 Company Financials
| 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 |
Harsha Engineers IPO Timeline
| 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 |
Company Profile
Harsha Engineers International Limited, founded in 2010, is the largest maker of precision bearing cages in India’s organised industry by revenue. The company is part of the Harsha Group. The company sells its products to customers in over 25 countries across five continents: North America, Europe, Asia, South America, and Africa. The business comprises of two segments:
- 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.
- 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 had produced over 7,205 bearing cages and over 295 other products for customers in the automobile, railway, aviation & aerospace, construction, mining, agriculture, electrical and electronics, and renewables industries. In addition, during the last three years, the company’s product development and innovation centre has created over 1,200 products in various bearing categories.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | harshaengineers.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | Harsha Engineers International Ltd |
| Phone number | +91 2717-618200 |
| Email ID | sec@harshaengineers.com |
| Website | harshaengineers.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
