IPO

Harsha Engineers International Limited

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Other Industrial Products

Listed On: Sep 26, 2022 at ₹ 450.0(NSE)

₹ 14850 /45 Shares

Check Allotment

14 Sep, 2022

Open Date

16 Sep, 2022

Close Date

21 Sep, 2022

Allotment Date

26 Sep, 2022

Listing Date
Price Summary

Last Closing

373.50 (13.18%)

52 Week High

532.95

52 Week Low

329.95

Last Update

19-Dec-2025 3:30 PM
IPO Live Subscription Details
QIB 178.26x
Retail 17.63x
NIIs Bids above ₹10L: 74.78x Bids below ₹10L: 64.41x NII Total: 71.32x
Retail 17.63x
EMP 12.07x
Total 74.70x
Last updated: 16 Sep 2022,06:58:00 PM
IPO Issue Details
  • Issue Price ₹314-330 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price N/A shares of ₹10 (aggregating up to ₹755.00 Cr)

    #Fresh Issue: N/A shares of ₹10 (aggregating up to ₹455.00 Cr)

    #Offer for Sale: N/A shares of ₹10 (aggregating up to ₹300.00 Cr)
  • Listing at BSE, NSE
  • List Price 450.0(NSE)
  • Listing Date 2022-09-26
  • Lead Manager Axis Capital Limited, Equirus Capital Private Limited, JM Financial Consultants Private Limited
  • Registrar Link Intime India Private Ltd
IPO Details
  • Retail Portion 35% (Number of Retail Applications : 1,77,290 Approx)
IPO Documents
DRHP
RHP
IPO Details


The IPO of is priced at ₹314-330 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 14, 2022 and ends on Sep 16, 2022. The allotment for IPO will be finalized on Sep 21, 2022. IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 26, 2022. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Axis Capital Limited, Equirus Capital Private Limited, JM Financial Consultants Private Limited.


The IPO sets its price band at 314-330 for each share. A single application for Harsha Engineers International Limited must contain at least 45 shares.

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IPO Subscription Analysis And Details
Retail
17.53x
QIB
178.26x
NII
71.31x
bNII
74.78x
sNII
64.37x
Total
74.65x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 4,792,950 3,594,780
2,396,520    1,198,260 		8,387,730 16,863,795
Day 1 14-09-22 05:00 PM
0.06 x 5.83
4.92 x   7.64 x 		3.22 x 2.87 x
Day 2 15-09-22 05:00 PM
1.63 x 24.91
22.38 x   29.96 x 		9.14 x 10.35 x
Day 3 16-09-22 05:00 PM
178.26 x 71.31
74.78 x   64.37 x 		17.53 x 74.65 x
Total No of Applications
2640527
Valuations
Earnings Per Share (EPS) ₹9.09/-
P/E Ratio N/A
RoNW 10.49%
Net Asset Value (NAV) - As on 31.03.22 ₹86.64
Company Financials
In Crs.
In Cr.
31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Assets 1158.25 981.07 973.24 195
Revenue 1339 876.73 899.5 117.9
Profit After Tax 91.94 45.44 21.91 -27.41
About Company

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.

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- Promoter(s)

Rajendra Shah

Harish Rangwala

Vishal Rangwala

Pilak Shah

Pre Issue Share Holding : 99.70%

Post Issue Share Holding : N/A%

IPO - Issue Objectives
1

Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.

2

Funding capital expenditure requirements towards purchase of machinery.

3

Infrastructure repairs and renovation of our existing production facilities including office premises in India.

4

General corporate purposes.

IPO - Anchor Investors

Harsha Engineers International mobilises Rs 225.74 crore from anchor investors ahead of IPO.

Marquee investors that participated in the anchor book included American Funds Insurance, Goldman Sachs, Pinebridge Global Funds, and Abu Dhabi Investment Authority.
Among others, Whiteoak Capital, HDFC Small Cap Fund, SBI MF, Franklin MF, UTI Infrastructure Fund, SBI Life Insurance, Nippon Life India Trustee, ICICI Prudential, DSP Small Cap Fund, and L&T Mutual Fund also invested in the company via anchor book.