Harsha Engineers International was incorporated on December 11, 2010. The company is a manufacturer of precision bearing cages, and amongst the leading manufacturers of precision bearing cages in the world and also diversified suite of precision engineering products across geographies and end-user industries. Their business comprises an engineering business and a solar EPC business.
| Bidding Dates |
|---|
| 14 Sep 2022 - 16 Sep 2022 |
| Subscription |
|---|
| 74.69x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,850 | 1 | 13 | 45 | 22.9 M | ₹314 - ₹330 | 74.87 % | ₹7183.9 M - ₹7550.0 M | RHP DOC |
Harsha Engineers IPO SUBSCRIPTION STATUS
16 Sep '22Harsha Engineers IPO overall subscription rate was 74.69 times the total available shares
Harsha Engineers IPO retail subscription rate was 17.62 times in the retail segment
Harsha Engineers IPO non-institutional investor subscription rate was 71.32 times in the non-institutional investor category
Harsha Engineers IPO Qualified Institutional Bidder subscription rate was 178.26 times the available shares for Qualified Institutional Bidder
Harsha Engineers IPO Employees subscription rate was 12.06 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
16 Sep 2022 (Day 3) | 17.62x | 71.32x | 178.26x | 12.06x |
15 Sep 2022 (Day 2) | 9.14x | 24.91x | 1.63x | 6.34x |
14 Sep 2022 (Day 1) | 3.21x | 5.81x | 0.06x | 2.33x |
Harsha Engineers FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| FY22 | 919.4 | 13,214.8 | 364.7 | -130.6 | 14.1% |
| FY21 | 454.4 | 8,737.5 | 1,211.6 | 813.7 | 14.3% |
| FY20 | 219.1 | 8,858.5 | 1,129.1 | 395.9 | 11.3% |
Harsha Engineers IPO SUBSCRIPTION STATUS DETAILS
Harsha Engineers had 22.9 M shares on offer
Harsha Engineers IPO offer price was in the range ₹314 - ₹330
Harsha Engineers IPO minimum Investment was ₹14850
Harsha Engineers IPO issue size was ₹ 7183.9 M - ₹ 7550.0 M
Harsha Engineers had a minimum lot size of 45 Shares per application
Harsha Engineers NUMBER OF SHARES ON OFFER
Harsha Engineers IPO IMPORTANT DATES
| Issue Open Date | 14 Sep 2022 |
| Issue close Date | 16 Sep 2022 |
| Allotment Date | 21 Sep 2022 |
| Refund Date | 22 Sep 2022 |
| Demat Account Credit Date | 23 Sep 2022 |
| Listing Date | 26 Sep 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Harsha Engineers Allotment Status | Exchange |
Harsha Engineers IPO subscription opened on 14 Sep 2022, and closed on 16 Sep 2022
IPO allotment for Harsha Engineers was finalized on Wednesday, 21 Sep 2022
IPO listing for Harsha Engineers was on NSE and BSE on Monday, 26 Sep 2022
Harsha Engineers IPO LISTING GAINS
| Issue Price (adjusted) | 330.0 |
| Listing Open Price | 450.0 |
| Listing Close Price | 486.5 |
| Listing Gain% | 36.4% |
| Current Gain% | 29.2% |
Harsha Engineers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Harsha Engineers International Ltd. | 426.4 | 3881.8 | 25 | 0.3 | 2.4 | 11.1 | 7.5 | 1665.3 | 15.2 | 155.2 | 73.8 | 17 | 73.8 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Harsha Engineers IPO Reports
Harsha Engineers INFORMATION ON IPO ISSUE
About Harsha Engineers
Harsha Engineers International was incorporated on December 11, 2010. The company is a manufacturer of precision bearing cages, and amongst the leading manufacturers of precision bearing cages in the world and also diversified suite of precision engineering products across geographies and end-user industries. Their business comprises an engineering business and a solar EPC business.
Object of the Issue
- Pre-payment or scheduled repayment of a portion of the existing borrowing availed by the company
- Funding capital expenditure requirements towards purchase of machinery
- Infrastructure repairs and renovation of existing production facilities including office premises in India
- General corporate purposes
Harsha Engineers - PROMOTERS
| Name |
|---|
| Rajendra Shah |
| Harish Rangwala |
| Vishal Rangwala |
| Pilak Shah |
Harsha Engineers Book Running Lead Manager
Axis Capital Limited
harsha.ipo@axiscap.in
Equirus Capital Private Limited
harsha.ipo@equirus.com
JM Financial Limited
harsha.ipo@jmfl.com
Harsha Engineers Registrar to the Offer
Link Intime India Private Limited
harshaengineers.ipo@linkintime.co.in
Harsha Engineers Strengths
Comprehensive solution provider
Comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries
Long-standing relationships
The company has established strong relationships with customers who are leading global bearing manufacturers in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, and renewables sectors
Strategically located production facilities
The company has five strategically located manufacturing facilities spread across three countries in India, China, and Romania
Consistent financial performance
The company's focus on operational and functional excellence has contributed to the track record of healthy financial performance
Consistent track record
Consistent track record of growth and financial performance
Harsha Engineers Risks
Limited customers
The company is dependent on a limited number of customer groups for a significant portion of revenue from the engineering business
Incurred losses
The company reported a loss in the financial year 2019 and may incur additional losses in the future
Unsecured loans
The company and certain of its subsidiaries have unsecured loans that may be recalled by the lenders at any time
Outstanding litigations
There are outstanding litigations involving the company and the directors
IPO FAQs
This IPO consists of an offer for sale of up to Rs 300.0 crore, of 9,090,909 shares. It also consists of a fresh issue of Rs 455.0 crore.
The promoters of the company are Rajendra Shah, Harish Rangwala, Vishal Rangwala and Pilak Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 314.0 - 330.0.
The IPO application opens on Sep 14, 2022 and closes on Sep 16, 2022.
The minimum lot size for the IPO is 45. The maximum lot size for the IPO is 585.
For all category investors, the minimum application amount for this IPO is Rs. 14,850.0, the maximum value for this IPO is Rs 193,050.0.
This IPO will be allotted on Sep 21, 2022.
The refund will be credited to your account on Sep 22, 2022.
The allotted shares will be credited to your demat on Sep 23, 2022.
Harsha Engineers International Ltd.’s shares listed on the stock exchanges on Sep 26, 2022.