Harsha Engineers will finalise allotment of shares post its initial public offering (IPO) on September 21. The IPO was open from September 14 to September 16. The issue was subscribed 74.70 times on the last day. The IPO received bids for 1,25,96,90,175 shares against 1,68,63,795 shares on offer, according to an update on the BSE. The portion for retail investors was fully subscribed 17.66 times , while that for qualified institutional buyers was subscribed 178.26 times. The share sale had a price band of Rs 314 to Rs 330 per share.
Meanwhile, IPOWatch suggested that Harsha Engineers IPO grey market premium (GMP) stood at Rs 240 on September 20. It implies that the grey market expects the lender to list around Rs 570 (Rs 330 + Rs 240), which is over 72 per cent premium to the IPO's upper band price of Rs 330 per equity share.
The lot size of Harsha Engineers IPO was 45 shares for which one would have to spend Rs 14,850. A retail individual investor could submit bids for up to 13 lots or 585 shares by spending Rs 1,93,050. Axis Capital Limited, Equirus Capital Private Limited and JM Financial Consultants were the lead managers of the IPO.
The shares are likely to be listed on BSE and NSE on September 26. Link Intime India Private Ltd is the registrar to the IPO.
Here's how to check your share allotment status. Investors can visit the Bombay Stock Exchange (BSE) website or the IPO registrar's website.
Registrar of the share sale is Link Intime.
1. Go to the online portal of Link Intime
2. Click on the drop-down menu and select the company name Harsha Engineers in the drop-down menu of the investor's centre section.
3. Enter your Permanent Account Numbers (PAN) or application number or Client ID.
4. After entering the given captcha code, investors can click on the submit button and view their allotment status.
Stock exchange website
1.Visit the official BSE website.
2. On the BSE homepage, click on 'Equity'. A dropdown menu will appear. Select 'Harsha Engineers'.
3. Enter your application and PAN number.
4. After entering the details, click on 'Search'.
5. After clicking on the 'Search' button, details of the number of shares subscribed and the number of shares allotted to you will be displayed.
Harsha Engineers on September 13 raised Rs 225.74 crore from anchor investors ahead of the public issue opening.
It finalised the allocation of 68.40 lakh equity shares at the upper end of the price band of Rs 330 per share. Marquee investors that participated in the anchor book were 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 infused funds in the company via anchor book.
Harsha Engineers International is the largest manufacturer of precision bearing cages, with 50-60 per cent market share in the organised market. It offers diversified suite of precision engineering products across geographies and end-user industries. It operates under 2 business divisions - engineering business and solar EPC business.
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