In the Rs. 755 crore Harsha Engineers IPO, new equity shares worth Rs. 455 crore will be issued, while existing owners and promoters will sell their holding for Rs. 300 crore through an offer for sale (OFS).
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On Wednesday, September 21, Harsha Engineers International (HEIL), whose initial public offering (IPO) generated a remarkable response throughout the three-day bidding procedure, is set to announce the results of its allotment.
New equity shares of Rs 455 crore will be issued as part of the Rs 755 crore IPO, while existing owners and promoters will sell their stakes for Rs 300 crore through an offer for sale (OFS).
Across regions and end-user industries, Harsha Engineering offers a broad range of precision engineering products, including those for the automotive, aviation and aerospace, railroads, construction, mining, renewable energy, agriculture, and more.
The company has five manufacturing plants, two of which are in Changodar, Gujarat, one in Moraiya, close to Ahmedabad, and one each in Changshu, China, and Ghimbav Braov, Romania.
By 2020, it expects to hold a 50% market share in the organised bearing cages market in India and a 5.2% market share in the global bearing cages market for brass, steel, and polyamide cages.
As of the last report, Harsha Engineers International's shares were trading in the black market at a premium of Rs 195–205. Since the issue's completion, the premium in the unofficial market has been decreasing.
The primary offering of the company, worth Rs. 755 crores, was sold for between Rs. 314 and Rs. 330 per equity share. All types of investors responded strongly to the problem, subscribing 74.7 times between September 14 and 16.
A staggering 178.26 times were subscribed to the quota set aside for qualified institutional buyers (QIBs), compared to 71.32 and 17.63 times for non-institutional investors (NIIs) and retailers, respectively.
Most brokerages continue to see the topic favourably and advise subscribing to it. However, some have identified dependence on big clients and rising raw material prices as the two main issues.
Investors who placed a bid for the offering may check the status of their allocation on the BSE website:
Visit https://www.bseindia.com/investors/appli check.aspx as number one
1) Visit https://www.bseindia.com/investors/appli check.aspx
2) Select Equity under the issuance type.
3) From the dropdown menu next to the issue's name, choose Harsha Engineers International Ltd.
4) Input your application number.
5) Enter your PAN card ID.
6) Select "I am not a Robot" and then press "Submit."
The Link Intime India web portal also allows you to check the status of your allocation.
Private Limited, the issue's registrar (https://linkintime.co.in/MIPO/Ipoallotment.html).
The registrar is a Sebi-registered firm that is authorised to function in that capacity, processes all applications electronically, and conducts the allocation procedure in accordance with the prospectus.
After the issue is finished, the registrar is in charge of observing the deadlines for updating the electronic credit of shares to successful applicants, sending and uploading refunds, and responding to any investor-related questions.
1) Visit Link Intime India Private Limited's website.
2) Choose the IPO in dropbox that will only have its name filled in if the allotment is complete.
3) One of the following three options may be requested of you: Application number, Client ID, or PAN ID.
4) In the application type field, choose either ASBA or non-ASBA.
5) Fill out the information for the mode you chose in Step 2.
6) Accurately complete the captcha for security reasons.
7) Press "Submit"
When will the IPO shares for Harsha Engineers be credited to my Demat account?
The beginning of refunds for bidders who did not receive an allocation in the IPO may occur on September 22. Others, who would be assigned shares may see the credit of shares in the Demat account by September 23.
When will the IPO for Harsha Engineers list?
On September 26, the IPO is most likely to list.
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