Harsha Engineers International Ltd IPO: Check IPO Details | Espresso

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Harsha Engineers International Ltd. IPO to Open on Sept 14: Check IPO Details, Issue Date, Price

September 12, 2022
Harsha Engineers International Ltd. IPO to Open on Sept 14: Check IPO Details, Issue Date, Price

Harsha Engineers International Ltd. is coming out with a fresh public issue to raise Rs 755 crores from the market.

Below are the details of the Harsha Engineers International Limited IPO:

  • Issue opens – Sept 14 (Wednesday)
  • Issue closes – Sep 16 (Friday)
  • Issue size – Rs 755 crores
  • Price band – Rs 314 to 330 per equity share
  • Bid lot – 45 shares and in multiples thereof
  • Employee reservation – Equity shares aggregating up to Rs 2.5 crores
  • Employee discount: Rs 31 per share

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And here are some details of the company and further details on the Harsha Engineers International issue.

Company details:

Harsha Engineers International Limited (“HEIL”) was incorporated on Dec 11, 2010. A part of the Harsha Group, HEIL is a leading engineering company that offers a diversified suite of products across geographies and end-user industries. It manufactures brass, steel and polyamide cages and stamped components with production facilities located in Asia (India & China) and in Europe (Romania).

HEIL’s market share is estimated to be around ~50-60% in the Indian bearing cages market, making it the largest manufacturer of precision bearing cages in the organized sector in India in terms of revenues and amongst the leading manufacturers of precision bearing cages in the world. HEIL accounted for a share of 6.5% in the global organized bearing brass, steel and polyamide cages market in CY2021.

The company’s business comprises:

  1. Engineering business, under which HEIL manufactures bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages & bronze bushings.
  2. Solar EPC business, under which HEIL provides complete comprehensive turnkey solutions to all solar photovoltaic requirements.

It offers a wide range of bearing cages starting from 20 mm to 2,000 mm in diameter and its bearing cages find application in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, renewables and many more sectors.

HEIL has also been providing comprehensive turnkey solutions to all Solar Photovoltaic requirements.

HEIL has 4 strategically located manufacturing facilities for their engineering business, with one of their principal manufacturing facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat in India, and one manufacturing unit each at Changshu, China and Ghimbav Brasov in Romania.

Issue break-up:

  • QIB – 50% of the net offer – Rs 376.25 crores
  • NIB – 15% of the net offer – Rs 112.87 crores
  • RET – 35% of the net offer – Rs 263.38 crores

Listing:

BSE and NSE

Registrar:

Link Intime India Private Limited

UPI:

All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode

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