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Harsha Engineers IPO
Harsha Engineers International has filed for a Rs 755 crore IPO, a combination of fresh equities worth Rs 455 crore and Rs 300 crore in OFS. They are the largest precession bearing cages manufacturer in India. Click here to Apply for Harsha Engineers IPO.
Opening Date
Sep 14, 2022
Closing Date
Sep 16, 2022
Price Band
₹314 - ₹330
Issue Size
₹ 755 Cr
Face Value
₹10 per equity share
Market Lot
45 Shares
Opening Date
Sep 14, 2022
Closing Date
Sep 16, 2022
Price Band
₹314 - ₹330
Issue Size
₹ 755 Cr
Face Value
₹10 per equity share
Market Lot
45 Shares
Listing at NSE, BSE
Harsha Engineers IPO Important Dates
| IPO Open Date | Sep 14, 2022 |
|---|---|
| IPO Close Date | Sep 16, 2022 |
| Allotment Date | Sep 21, 2022 |
| Initiation Of Refunds | Sep 22, 2022 |
| Credit Of Shares To Demat Account |
Sep 23, 2022 |
| IPO Listing Date | Sep 26, 2022 |
| UPI Mandate Expiry Date | To be announced |
At 05:12:00 PM.
- This IPO has been subscribed 74.70x by 05:12 PM. on Day 3
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 178.26x
- (NII) Non-institutional buyers: 71.32x
- (RII) Retail Individual buyers: 17.63x
- Employees: 12.07x
At 03:22:00 PM.
- This IPO has been subscribed 72.30x by 03:22 PM. on Day 3
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 173.02x
- (NII) Non-institutional buyers: 68.79x
- (RII) Retail Individual buyers: 16.89x
- Employees: 10.82x
At 12:57:00 PM.
- This IPO has been subscribed 20.05x by 12:57 PM. on Day 3
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 13.25x
- (NII) Non-institutional buyers: 44.15x
- (RII) Retail Individual buyers: 13.70x
- Employees: 9.23x
At 10:46:00 AM.
- This IPO has been subscribed 13.21x by 10:46 AM. on Day 3
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 1.91x
- (NII) Non-institutional buyers: 33.54x
- (RII) Retail Individual buyers: 11.01x
- Employees: 7.62x
At 05:00 PM.
- This IPO has been subscribed 10.35x by 05:00 PM. on Day 2
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 1.63x
- (NII) Non-institutional buyers: 24.91x
- (RII) Retail Individual buyers: 9.14x
- Employees: 6.34x
At 02:58 PM.
- This IPO has been subscribed 5.50x by 02:58 PM. on Day 2
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.46x
- (NII) Non-institutional buyers: 15.38x
- (RII) Retail Individual buyers: 6.83x
- Employees: 5.09x
At 12:58 PM.
- This IPO has been subscribed 5.50x by 12:58 PM. on Day 2
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.09x
- (NII) Non-institutional buyers: 11.73x
- (RII) Retail Individual buyers: 5.94x
- Employees: 4.44x
At 10:38:00 AM.
- This IPO has been subscribed 4.13x by 10:38 AM. on Day 2
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.07x
- (NII) Non-institutional buyers: 8.69x
- (RII) Retail Individual buyers: 4.51x
- Employees: 3.32x
At 05:00:00 PM.
- This IPO has been subscribed 2.87x by 05:00 PM. on Day 1
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 5.83x
- (RII) Retail Individual buyers: 3.22x
- Employees: 2.33x
At 03:23:00 PM.
- This IPO has been subscribed 1.85x by 03:23 PM. on Day 1
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 3.12x
- (RII) Retail Individual buyers: 2.36x
- Employees: 1.59x
At 01:18:00 PM.
- This IPO has been subscribed 1.04x by 01:18 PM. on Day 1
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 1.39x
- (RII) Retail Individual buyers: 1.48x
- Employees: 1.12x
At 11:29:00 AM.
- This IPO has been subscribed 0.55x by 11:29 AM. on Day 1
- It is a public issue of 16,863,795 equity shares.
- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.62x
- (RII) Retail Individual buyers: 0.82x
- Employees: 0.57x
About Harsha Engineers
Harsha Engineers is the largest Indian precession bearing cages manufacturer in the organised segment. They occupy almost 50% of the Indian market and 5.2% of the global market for brass, steel and polyamide cages in 2020. The company offers a diversified product portfolio and manufactures a wide range of bearing cages from 20mm to 200 mm diameters.
They are also engaged in the solar EPC business.
Harsha Engineers IPO Objectives
- The majority of the net proceeds from the new equity shares will be used for procuring machinery, repairing infrastructure, and renovating existing production facilities.
Why should you invest in the Harsh Engineers IPO?
Below are your top reasons:
- The bearing cages market will grow at a 6-8% CAGR between 2021 and 2029 to an estimated USD 8,354 million by 2029.
- Harsha Engineers is one of the critical players offering a diversified suite of precession engineering products across geographies and industries.
- They have five strategically located production facilities with an annual capacity of 4,596 metric tonnes to cover the vast international market.
Financial Highlights
| Particulars | For the year/period ended (₹ in million) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Revenue From Operation | 8,737.54 | 8,858.53 | 1,225.15 |
| EBITDA | 1,404.62 | 1,233.79 | |
| EBITDA Margin (%) | 16.08 | 13.93 | |
| Profit After Tax | |||
| EPS | 5.88 | 3.52 | 13.51 |
| ROE(in %) | 10 | 6 | - |
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How to apply for Harsha Engineers IPO?
Retail investors need to apply for the IPO using UPI.
UPI
- Link your bank account to a UPI ID.
- Register your UPI id with your Demat account.
- Subscribe for Harsha Engineers International IPO and approve the payment on your UPI ID.
Demat Account
- If you’re a new investor, Open a DEMAT Account for free with Angel One and begin your investment journey.
Harsha Engineers Noteworthy Highlights:
- They have the expertise and experience in manufacturing a variety of precession engineering products.
- Their expertise allows them to produce specialised products and solutions, including their solar EPC business.
- They have three wholly-owned subsidiaries in China, the USA, and the Netherlands.
The Brand’s Pros & Cons:
| Pros | Cons |
|---|---|
| The company is a comprehensive solution provider with a diversified product portfolio. | The global COVID-19 pandemic has impacted the business of bearing cages. |
| They cater to a large customer base in India and twenty-five countries across the globe. | They are dependent on a limited number of customers for their revenue. |
| The company is securely placed in the market with a strong team of experienced engineers and advanced technology adaption. | The company may experience negative cash flow in the future due to its inability to maintain the network of agents. |
Competitive Analysis: Market Peers
The company continues to face challenges from listed and unlisted peers.
| Company | Total income (in ₹ million) | P/E | EPS |
|---|---|---|---|
| Timken India Ltd. | 14,301.24 | 104.49 | 19.03 |
| SKF India Ltd. | 27,069.60 | 65.36 | 60.20 |
| Rolex Rings Ltd. | 6,197.57 | 36.57 | 35.96 |
| Sundaram Fasteners Ltd. | 36,716.90 | 50.94 | 17.10 |
Harsha Engineers IPO FAQs
What is Harsha Engineers IPO?
Harsha Engineers has filed for Rs 755 crore IPO consisting of fresh equities of Rs 455 crore and offer for sale of Rs 300 crore equity shares.
When will Harsha Engineers IPO allotment be available?
Harsha Engineers IPO allotment date will be available from Sept 21, 2022.
What will be Harsha Engineers’ IPO lot size?
Harsha Engineers IPO lot size is 45 shares.
When will Harsha Engineers’ IPO open for subscription?
Harsha Engineers IPO is open for subscription from Sep 14, 2022.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Harsha Engineers list on the exchanges?
It takes around ten working days from the last day of subscription to complete the listing process.
How to check the allotment status of Harsha Engineers IPO?
The existing Angel One customers can check their IPO allotment status in their customer accounts.
Keep your application number, DP id, and PAN number handy while checking allotment status.
What would be the listing gains on Harsha Engineers IPO?
Listing gain indicates the difference between the IPO’s opening and offer prices. The listing gain is a result of investors’ interest, global parameters, and short and long term outlooks.
I have finished the application process for Harsha Engineers’ IPO, but the funds are not yet debited. What is the reason?
The bank will initially block the fund when you bid for the IPO. It will then debit the amount when shares are allotted to you or unblock the amount upon the UPI mandate expiration.
Can I alter my bid for Harsha Engineers IPO after confirming its final application?
You can change the price or the lot size of your bid using the changing/revising form available with the application. But it could be a challenge to complete the process within the time given.
Can I submit more than one application for the public issue of Harsha Engineers using one PAN?
No. Only one application at a time is allowed against one PAN card.
Who is the owner of Harsha Engineers?
Harish R. Rangwala is the founder of Harsha Engineers.
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