Harsh Engineers IPO shares are getting good response in gray market.
Any bidders who have not been allotted shares will start getting refund from September 22.
The shares of the company are likely to be listed on NSE and BSE on 26 September.
New Delhi. The IPO of Harsh Engineers International, a company that makes engineering products, has got a tremendous response from investors. The company’s IPO was open for subscription on 14 September and bidding was done till 16 September. The IPO is subscribed a total of 74.70 times. The share reserved for retail investors is 17.6 times, the share of non-institutional investors is 71.3 percent and that of qualified institutional bidders is the highest at 178.26 percent. The bidders for the IPO will be allotted shares on Wednesday, September 21.
The price band of the IPO was Rs 314-330. In this IPO, new issues worth Rs 455 crore were issued and shareholders and promoters brought an offer for sale of Rs 300 crore. The bidder had to bid for at least one lot consisting of 45 shares. This is the second attempt by the Ahmedabad-based company to bring an IPO. Harsh Engineering had submitted the draft papers with SEBI in August 2018.
Harsh Engineers IPO GMP
According to a report in Live Mint, the shares of Harsh Engineers IPO are getting good response in the gray market. The GMP of Harsh Engineers IPO on Tuesday was Rs 240. It was Rs 45 more than Monday’s Rs 195. Harsh Engineers shares are trading at a premium since the launch of the IPO. The shares of the company are likely to be listed on NSE and BSE on 26 September.
How to check allotment
Harsh Engineers share allotment investors can check the BSE website and the link on Intime India Private Limited’s website. First to check share allotment on BSE website https://www.bseindia.com/investors/appli_check.aspx, Will have to go to the link. After this, Harsh Engineers will have to be selected in the issue name. After this you have to enter the PAN card number. Similarly, you can also check allotment on the website of Link Intime India Private Limited. Any bidders who have not been allotted shares will start getting refund from September 22.
What does the company do?
Harsh Engineers International was established in 1986 to manufacture engineering products for the automotive, aviation and aerospace, railways, construction mining and many other industrial sectors. The company has three manufacturing plants in Gujarat and one each in China and Romania. Its products are supplied to 25 countries. The company has achieved a revenue of Rs 1,321.48 crore and a profit of Rs 91.94 crore during the financial year ended March, 2022. The company’s revenue increased by 45.44 percent as compared to the previous year.
FIRST PUBLISHED : September 21, 2022, 09:10 IST