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.
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.
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding of the following objects:
| IPO Opening Date | 14 Sep 2022 |
|---|---|
| IPO Closing Date | 16 Sep 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 Equity Share |
| IPO Price | ₹314 to ₹330 per share |
| Market Lot | 45 Shares |
| Min Order Quantity | 45 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹755.00 Cr) |
| Fresh Issue | [.] shares of ₹10 (aggregating up to ₹455.00 Cr) |
| Offer for Sale | [.] shares of ₹10 (aggregating up to ₹300.00 Cr) |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
| Basis of 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 |
Harsha Engineers IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹755.00 Crores. The issue is priced at ₹314 to ₹330 per share. The minimum order quantity is 45 Shares.
The IPO opens on Sep 14, 2022, and closes on Sep 16, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Harsha Engineers IPO opens on Sep 14, 2022 and closes on Sep 16, 2022.
Harsha Engineers IPO lot size is 45 Shares and the minimum order quantity is 45 Shares.
You can apply in Harsha Engineers IPO online using either UPI or ASBA as 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.
The finalization of Basis of Allotment for Harsha Engineers IPO will be done on Sep 21, 2022, and the allotted shares will be credited to your demat account by Sep 23, 2022.
Check the IPO allotment status.
The Harsha Engineers IPO listing date is Sep 26, 2022. The tentative date of Harsha Engineers IPO listing is Sep 26, 2022.
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