Harsha Engineers IPO: Share Allotment Date Fixed Tomorrow: Check Details

Harsha Engineers International Ltd. announced IPO allotment. The date for IPO allotment has been fixed to be on Wednesday, 22 September, and its IPO size will be Rs. 755 crore. Last Friday, this IPO has been subscribed 74.7 times, on the final day of bidding. Investors who will miss the bid, will receive their refunds on September 22, and investors who win the bid will receive the credit to their Demat accounts on September 23. The IPO share has a price band of Rs. 314 to Rs. 330 per share. The equity shares are expected to be listed on BSE and NSE on 26 September 2022.

According to company data, the IPO issue has received bids for 125.97 crore shares against the 1.69 shares on offer. This year, Harsha Engineers IPO is experiencing the strongest response from investors. Stock exchange information states that the qualified institutional buyers' portion has been subscribed 178.26 times, the non-institutional investors' portion has been subscribed 71.32 times, and retail investors' portion has been subscribed 17.63 times.

Reportedly, the IPO was a mix of a fresh issue of shares aggregating to Rs. 455 crore. This IPO had an offer for sale of up to Rs. 300 crore. On Tuesday, the company raised Rs. 226 crore from anchor investors ahead of its public issue. The IPO has allotted 68.41 lakhs shares to the institutions.

Registering a promising debut, Harsha Engineers IPO is available at a premium of Rs. 215. at the GMP (grey market premium) today. Investors can check Harsha Engineers IPO allotment status online at the BSE website - bseindia.com.

Harsha Engineers International Ltd. is a TPM-certified Precision Engineering Company manufacturing Bearing Cages and Stamped Components.