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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of HARSHA ENGINEERS INTERNATIONAL LIMITED will open for subscription on September 14, 2022 and closes on September 16, 2022. It is expected to list on the stock exchanges on September 26, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Established in 2010, it is the largest manufacturer of precision bearing cages, in terms of revenue, in the organized sector in India, is among the leading manufacturers of precision bearing cages in the world. The company manufactures a wide range of bearing cages starting from 20 mm to 2,000 mm in diameter, and their bearing cages find its application in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, renewables sectors, etc.
Harsha engineers have four 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. The company supplies products to customers in over 25 countries covering five continents.
The company has approximately 50-60% of the market share in the organized segment of the Indian bearing cages market and 6.5% of the market share in the globally organized bearing cages market for brass, steel, and polyamide cages in CY 2021.
The company business comprises:
Rajendra Shah, Harish Rangwala, Vishal Rangwala and Pilak Shah
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
| IPO Size | ₹ 755 Crore |
|---|---|
| Offer Mix | Fresh Issue ₹ 455 Crore + Offer For Sale ₹ 300 Crore |
| Price Band | ₹ 314 - ₹ 330 |
| Lot Size | 45 Shares (& in multiples thereof) |
| Face Value | ₹ 10 |
| Application Amount | Min. ₹ 14,850 (1 lot) | Max. ₹ 1,93,050 (13 lots) [at upper price band] |
| Listing on | NSE & BSE |
| Registrar | Link Intime India Private Limited |
| Discount | ₹ 31 per equity share for Eligible Employees Category only |
| Cut-off time for UPI Mandate Confirmation | 26-September-2022 (up to 05:00 PM) |
| QIB |
₹ 376.25 Crore (50% of Net Issue Size) |
|---|---|
| NIB |
₹ 112.88 Crore (15% of Net Issue Size) |
| Retail |
₹ 263.37 Crore (35% of Net Issue Size) |
| Employee Reservation Portion |
₹ 2.5 Crore |
| Activity | Date |
|---|---|
| IPO Opens | September 14, 2022 |
| IPO Closes | September 16, 2022 |
| Finalization of the basis of allotment | September 21, 2022 |
| Unblocking of funds / Initiation of refunds | September 22, 2022 |
| Credit of equity shares to Demat accounts | September 23, 2022 |
| Listing of equity shares | September 26, 2022 |
| Source: Company RHP |
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