Harsha Engineers IPO listing date: Shares to make debut on NSE, BSE on Monday; what to expect from listing?

Harsha Engineers IPO Listing Date: The initial public offering (IPO) of Harsha Engineers International Limited, one of the largest manufacturers of precision bearing cages in India’s organized sector, is all set to list on the stock exchanges (NSE and BSE) on Monday. The IPO was subscribed 74.70 times in the last day. Against the 1,68,63,795 shares offered for the IPO, bids were received for 1,25,96,90,175 shares on the last day, according to NSE data. The retail category was subscribed 17.6 times, the NII share was booked 71.3 times and the QIB share was subscribed 178.26 times on the last day. The IPO of Harsha Engineers remained open from September 14 to 16.

Harsha Engineers International Limited had pegged the IPO size at Rs 755 crore, which includes a fresh issue of Rs 455 crore and an open offer for sale (OFS) of Rs 300 crore. The company had fixed a price band of Rs 314 to Rs 330 for the issue, the offer lot of which consisted of 45 shares and a multiple thereof. The retail allocation was capped at 35% for the Harsha Engineers IPO. The company has also reserved shares for its employees to the tune of Rs 2.50 crore. Employees were offered a discount of Rs 31 per share.

Harsha Engineers listing expectations

As shares of Harsha Engineers International Limited on Monday, September 26, the expert opines that the stock can make a great debut.

Aayush Agrawal, senior research analyst at Swastika Investmart Ltd, says the company’s stock can surprise the markets and make a big listing debut even above its gray market premium.

“The company’s strong fundamentals, competitive advantages such as high entry barriers and switching costs, experienced management team and strong growth prospects indicate a strong share price, he said.

“Furthermore, the company is a proxy for India becoming the global manufacturing hub. Our recommendation for investors is to hold the allocated shares and long-term investors can accumulate the shares on dips,” he added the expert

Earlier, Zee Business Managing Editor Anil Singhvi had recommended subscribing to the number. The Zee Business Managing Editor said the company has a mix of new and experienced promoters with a clean track record, good financials and growth prospects. “It’s also almost a debt-free company with attractive valuations,” he said, adding it’s asking for both a big stock gain and a long term.

Singhvi said exposure to Europe, China and the US is huge, accounting for 57% of its revenue, which is the only negative for this company.

The company’s products are used in the automotive, railway, aviation and aerospace, construction, mining, agriculture, electricity and electronics, renewables, etc. sectors. The government’s push in infrastructure, agricultural reforms, the reactivation of private CAPEX and the increase in housing and real estate demand bodes well for the aforementioned sectors and the company’s prospects.

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