Harsha Engineers Listing – Shares Rise 36% upon Debut

Harsha Engineers Shares on NSE, BSE Harsha Engineers today made their D-street debut. The company’s shares began trading on NSE at Rs.450 per share. This is up 36% from the IPO price at Rs 314-330 per share. On the BSE, the stock debut at Rs. 444 per share, an increase of 35 percent.

Participants purchased the Rs 755 crore public issue 74.7 times. Participants subscribed to the qualified institutional buyer section 178.26, while non-institutional investors received a subscription of 71.32. The subscriptions for the retail investors portion were 17.63 times. Harsha Engineers International IPO included a new issue of Rs 455 Crore and an offer for purchase (OFS), of up to Rs 300 Crore by promoters and shareholders.

Harsha Engineers IPO had 45 shares. This means that an investor must spend at least Rs 14,850. Retail investors could bid for as many as 13 lots, or 585 shares, by spending Rs 1,93,000.50 Harsha Engineers IPO price band was Rs 314-330/share band.

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The IPO was managed by Equirus Capital Private Limited, Axis Capital Limited and JM Financial Consultants.

Harsha Engineers is India’s largest manufacturer of precision bearings cages and a leader in precision bearing cage manufacturing around the globe. The company offers a wide range of precision engineering products that are available in a variety of geographies and industries. Customers can find its products in more than 25 countries, including five continents: North America, Europe and Asia.

Motilal Oswal Financial Services’ report stated that Harsha Engineers, with its dominant position, is well-positioned to take advantage of the increasing demand for bearing cages across all industries. Analysts at Motilal Oswal Financial Services like the company’s increased focus on other precision components and on growing EV segments, which could increase its EBITDA margins. Harsha Engineers International Ltd holds a 50-60% market share of the precision bearing cages market. It offers a wide range of precision engineering products that can be used in a variety of industries and geographies. It is divided into two business units: engineering and solar EPC.

What should investors do now?

Analysts are optimistic about Harsha Engineers, given its dominant position in the market and well-placed to capitalize on the growth of specialized precision components as well as bearing cage demand from all industries.

Santosh Meena Head of Research, Swastika Investmart Ltd. said that Harsha Engineers Ltd. debuted at Rs. 450 i.e. 36% more than its issue price. Outstanding prospects and an overwhelming response from investors are the key to the company’s successful listing. This stock is a solid candidate for long-term investment due to its strong fundaments, competitive advantage like high entry barriers or switching costs, an experienced management team, strategically placed manufacturing facilities, and a robust growth outlook. The proxy plays on India becoming a global manufacturing hub. Anyone who applies for listing gains may maintain a stop loss limit of Rs. 400. We recommend that investors hold the allotted shares. Long-term investors can also accumulate the stock on dips.

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