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Harsha Engineers IPO is a book build issue of ₹755.00 crores. The issue is a combination of fresh issue of 1.38 crore shares aggregating to ₹455.10 crores and offer for sale of 0.91 crore shares aggregating to ₹299.90 crores.
Harsha Engineers IPO bidding started from Sep 14, 2022 and ended on Sep 16, 2022. The allotment for Harsha Engineers IPO was finalized on Sep 21, 2022. The shares got listed on BSE, NSE on Sep 26, 2022.
Harsha Engineers IPO price band is set at ₹330.00 per share . The lot size for an application is 45. The minimum amount of investment required by an retail is ₹14,130 (45 shares). The lot size investment for sNII is 14 lots (630 shares), amounting to ₹2,07,900, and for bNII, it is 68 lots (3,060 shares), amounting to ₹10,09,800.
The issue includes a reservation of up to 83,610 shares for employees offered at a discount of ₹31.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹314 to ₹330 per share |
| Issue Price Final | ₹330 per share |
| Lot Size | 45 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,28,86,595 shares (aggregating up to ₹755.00 Cr) |
| Fresh Issue | 1,37,95,695 shares (aggregating up to ₹455.10 Cr) |
| Offer for Sale | 90,90,900 shares of ₹10 (aggregating up to ₹299.90 Cr) |
| Employee Discount | ₹31.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,72,48,410 shares |
| Share Holding Post Issue | 9,10,44,105 shares |
Harsha Engineers IPO offers total 2,28,86,595 shares. Out of which 1,14,01,470 (49.82%) allocated to QIB, 45,60,615 (19.93%) allocated to QIB, 34,20,450 (14.95%) allocated to NII, 79,81,065 (34.87%) allocated to RII and 68,40,855 (29.89%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,14,01,470 (49.82%) | NA |
| − Anchor Investor Shares Offered | 68,40,855 (29.89%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 45,60,615 (19.93%) | NA |
| NII (HNI) Shares Offered | 34,20,450 (14.95%) | NA |
| − bNII > ₹10L | 22,80,300 (9.96%) | 3,619 |
| − sNII < ₹10L | 11,40,150 (4.98%) | 1,809 |
| Retail Shares Offered | 79,81,065 (34.87%) | 1,77,357 |
| Employee Shares Offered | 83,610 (0.37%) | NA |
| Total Shares Offered | 2,28,86,595 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Harsha Engineers IPO raises ₹225.75 crore from anchor investors. Harsha Engineers IPO Anchor bid date is September 13, 2022. Harsha Engineers IPO Anchor Investors list
| Bid Date | September 13, 2022 |
| Shares Offered | 68,40,855 |
| Anchor Portion Size (In Cr.) | 225.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 21, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 20, 2022 |
Harsha Engineers IPO opens on September 14, 2022, and closes on September 16, 2022.
| IPO Open Date | Wed, Sep 14, 2022 |
| IPO Close Date | Fri, Sep 16, 2022 |
| Tentative Allotment | Wed, Sep 21, 2022 |
| Initiation of Refunds | Thu, Sep 22, 2022 |
| Credit of Shares to Demat | Fri, Sep 23, 2022 |
| Tentative Listing Date | Mon, Sep 26, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 16, 2022 |
Investors can bid for a minimum of 45 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,850 |
| Retail (Max) | 13 | 585 | ₹1,93,050 |
| S-HNI (Min) | 14 | 630 | ₹2,07,900 |
| S-HNI (Max) | 67 | 3,015 | ₹9,94,950 |
| B-HNI (Min) | 68 | 3,060 | ₹10,09,800 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹3004.20 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...
| Listing Date | September 26, 2022 |
| BSE Script Code | 543600 |
| NSE Symbol | HARSHA |
| ISIN | INE0JUS01029 |
| Final Issue Price | ₹330 per share |
| BSE Listing Group | B |
Harsha Engineers International Ltd.
NH-8A,
Sarkhej- Bavla Highway,
Changodar, Ahmedabad 382213
Ahmedabad, Gujarat
Phone: +91 2717-618200
Email: sec@harshaengineers.com
Website: http://www.harshaengineers.com/
MUFG Intime India Pvt.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 2,28,86,595 equity shares of the face value of ₹10 aggregating up to ₹755.00 Crores. The issue is priced at ₹330 per share. The minimum order quantity is 45.
The IPO opens on September 14, 2022, and closes on September 16, 2022.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹14,850.
You can apply in Harsha Engineers IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Monday, September 26, 2022.
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