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Harsha Engineers IPO - Listing Date, GMP & Subscription

Harsha Engineers International Ltd IPO listing date: Sep 26, 2022 on NSE, BSE. Listed at ₹441 (+33.6%) vs issue price of ₹330. Subscribed 74.70x overall (QIB: 193.01x). Price band: ₹314-₹330, lot size 45 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Sep 25, 2022

Key Dates

IPO Open DateSep 14, 2022

IPO Close DateSep 16, 2022

Allotment DateSep 21, 2022

Refund DateSep 23, 2022

Demat Credit DateSep 25, 2022

Listing DateSep 26, 2022

Issue Details

Price Band₹314-₹330

Issue Price₹330

Face Value₹10

Lot Size45 shares

Min Investment₹14,850

Issue Size₹755 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓193x QIB subscription

✓Global niche leader in bearing cages

✓Strong export revenue base

⚠Small issue creates illiquidity

⚠Niche sector with limited analyst coverage

About Harsha Engineers International Ltd

Harsha Engineers is one of India's largest manufacturers of bearing cages, a precision engineering component used in automotive, railways, aerospace, and industrial applications. Exports to 25+ countries.

Subscription Breakdown

Overall Subscription74.70x

QIB (Institutional)193.01x

NII (HNI)114.21x

Retail23.34x

Listing Price

₹441

Listing Gain

+33.6%

Issue Price

₹330

stoicHQ Analysis

Exceptional 33.6% listing gain backed by 193x QIB demand. The bearing cage manufacturing niche - unglamorous but highly defensible - attracted quality institutional buyers who understood the global supply chain positioning and barriers to entry.

Engineering / Manufacturing2022All 2022 IPOs

IPO Listing Timeline

Previous IPO← Dreamfolks Services IPO (listed Sep 6, 2022)Next IPOGlobal Health IPO (Medanta) (listed Nov 16, 2022) →

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Harsha Engineers IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Sep 25, 2022+₹111-+33.6%

Sep 20, 2022+₹105₹680+31.8%

Sep 16, 2022+₹110₹700+33.3%

Sep 14, 2022+₹95₹650+28.8%

Sep 12, 2022+₹88₹600+26.7%

Sep 10, 2022+₹72₹500+21.8%

Sep 8, 2022+₹55₹400+16.7%

Harsha Engineers IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Sep 14)3.82x0.00x1.71x5.38x

Day 2 (Sep 15)15.40x0.00x9.62x21.10x

Day 3 (Sep 16)74.70x193.01x114.21x23.34x

Anchor Investors

Goldman Sachs India₹30 crore

SBI Mutual Fund₹25 crore

Nippon India Mutual Fund₹22 crore

HDFC Mutual Fund₹20 crore

White Oak Capital₹18 crore

Harsha Engineers International Ltd - Financials at IPO

YearRevenuePATNet Margin

FY20₹567 crore₹34 crore6.0%

FY21₹519 crore₹38 crore7.3%

FY22₹755 crore₹72 crore9.5%

Listed Peers - Engineering / Manufacturing

Timken IndiaBearing Manufacturing

Schaeffler IndiaBearing Manufacturing

SKF IndiaBearing Manufacturing

Frequently Asked Questions

When did Harsha Engineers IPO list?

Harsha Engineers IPO listed on September 26, 2022 on NSE and BSE at ₹441, a 33.6% gain over the issue price of ₹330.

What was the Harsha Engineers IPO GMP?

The grey market premium (GMP) for Harsha Engineers IPO peaked at ₹110-₹111 in the final days before listing, correctly forecasting the 33.6% listing gain. GMP started at ₹55 when the IPO opened on September 14, 2022.

What was the Harsha Engineers IPO subscription status?

Harsha Engineers IPO was subscribed 74.70x overall. QIB subscription was 193.01x, NII (HNI) was 114.21x, and retail was 23.34x. Day 1 subscription was 3.82x, growing to 74.70x by Day 3.

What does Harsha Engineers manufacture?

Harsha Engineers International Ltd manufactures precision stamped components, primarily bearing cages used in automotive, railways, aerospace, and industrial applications. It is one of India's largest bearing cage manufacturers and exports to 25+ countries.

What is the allotment date for Harsha Engineers IPO?

The allotment date for Harsha Engineers IPO was September 21, 2022. Refunds were processed on September 23, 2022 and demat credit was on September 25, 2022.

Who was the registrar for Harsha Engineers IPO?

Link Intime India was the registrar for Harsha Engineers IPO. To check allotment status, visit linkintime.co.in, select Harsha Engineers IPO, and enter your PAN or application number.