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You Don’t Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date

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You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date 75/75 Meta
You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date 75/75 Meta

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The initial public offering (IPO) of Harsha Engineers International was signed at `74.70 million due to strong demand from institutional buyers on the last day of subscription on Friday. According to NSE data, 125.96 million shares were tendered in the public offering, compared with 1.68 million shares offered for sale.

Harsha Engineers Ipo Allotment Date

 You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date You Don't Get It? Read Full Explanation Harsha Engineers Ipo Allotment Date 75/75 Meta

The quota for qualified institutional buyers (QIBs) was subscribed at €178.26 million, while the quota for non-institutional investors was subscribed at €71.32 million.

The category for retail individual investors (RII) was subscribed at 17.63 times.

The IPO of Harsha Engineers was fully subscribed on the first day of subscription on Wednesday.
The IPO of up to Rs. 755 crore included a fresh issue of up to Rs. 455 crore and an offer for sale of up to Rs. 300 crore.

The offering price range was Rs. 314 to Rs. 330 per share.

The proceeds of the new issue, amounting to Rs. 270 million, will be used to repay debt, finance working capital requirements for the acquisition of equipment, repair and renovation of infrastructure at existing production facilities and general business requirements, up to a maximum of Rs. 76 million.

The company has five manufacturing facilities, of which the two main ones are in Changodar and Moraya, near Ahmedabad (Gujarat), and a manufacturing unit in Changshu (China) and another in Gimbav Brasov (Romania), providing access to its customers in more than 25 countries.
Axis Capital, Equirus Capital and JM Financial were the managers of the offering.

 

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