Harsha Engineers IPO Listing: Shares end 47% higher on debut day; what should investors do now?
Harsha Engineers IPO listing date: Shares of Harsha Engineers International Limited made a strong debut amid a falling market.
Harsha Engineers IPO Listing Price: Shares of Harsha Engineers International Limited made a strong debut amid a falling market. Shares of Harsha Engineers opened at Rs 444 per share on the BSE. This is a premium of 34.55% or Rs 114 against the issue price of Rs 330.
Earlier, the IPO was subscribed 74.70 times on the final day. Against 1,68,63,795 shares put on offer for the IPO, the bids were received for 1,25,96,90,175 shares on the last day, as per NSE data. The retail category was subscribed 17.6 times, NIIs quota was booked 71.3 times and QIBs portion was subscribed a whooping 178.26 times on the last day. Harsha Engineers IPO remained open between September 14-16.
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Harsha Engineers share price ends 47% higher on IPO price
Shares of Harsha Engineers, which gained almost 60% intraday, closed with a gain of 47.24% to Rs 485.90 per share on the BSE against the IPO price of Rs 330. The stock ended almost 10% higher to Rs 485.90 on the listing price of Rs 444.
What does Harsha Engineers International Limited do?
Incorporated in 2010, HEIL manufactures bearing cages, including cylindrical roller cages, spherical roller cages, deep grove cages, angular contact cages, thrust roller cages and taper roller cages), complex and specialised precision stamped components, welded assemblies and brass castings and bushings. HEIL caters to customers who are leading global bearing manufacturers in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, renewables sectors. The bearing cages market globally is concentrated among a few global bearing manufacturers with Top-6 global bearing manufacturers contributing to 54% of the market share in Fiscal 2022- LKP Securities
Harsha Engineers Share price jumps 60%
Harsha Engineers share price jumped nearly 60% on its issue price on its debut day. The stock jumped 59.69% on IPO price to trade at Rs 527.60 per share on the BSE
Harsha Engineers IPO shares: What should investors do?
Harsha Engineers Ltd. has debuted at Rs. 450 i.e. 36% above its issue price. The company’s good listing can be attributed to outstanding prospects and a phenomenal response from the investors. The company’s strong fundaments, competitive advantages like high entry barriers and switching costs, experienced management team, strategically located manufacturing facilities and robust growth outlook makes this stock a strong candidate for long-term investing. Further, the company is a proxy play on India becoming the global manufacturing hub. Those who applied for listing gains can maintain a stop loss of Rs. 400. Our recommendation for the investors is to hold the allotted shares and long-term investors can accumulate the stock on dips.
Santosh Meena, Head of Research, Swastika Investmart Ltd. on Harsha IPO
Harsha Engineers Share price jumps nearly 47%
Shares of Harsha Engineers gained more than 6.84% on the listing price in BSE intraday trade to Rs 474.35 per share. The stock jumped 43.74% on the issue price of Rs 330 per share. Soon after opening the stock rose almost 47% against IPO price to Trade at Rs 484.70 per share
Harsha Engineers IPO Listing Price on NSE
On the National Stock Exchange (NSE), shares of Harsha Engineers debuted at 36% premium to Rs 450 per share.
Harsha Engineers IPO Listing Price:
Shares of Harsha Engineers International Limited made a strong debut amid a falling market. Shares of Harsha Engineers opened at Rs 444 per share on the BSE. This is a premium of 34.55% or Rs 114 against the issue price of Rs 330.
Harsha Engineers share price in pre-open
Shares of Harsha Engineers IPO were trading at Rs 480 per share in the pre-open ahead of the listing today. This is a gain of Rs 150 or 45% against issue price of Rs 330 per share
Harsha Engineers IPO positive, negative
Zee Business Managing Editor Anil Singhvi had recommended to subscribe the issue. He said the company boasts of combination of new and experienced promoters with clean track record, has strong financials and growth outlook. "It is also almost a debt-free company with attractive valuations," he said, adding apply for both big listing gain and long-term. Singhvi had said exposure to Europe, China and USA is huge at 57% of its revenue, which is the only negative for this company.
Harsha Engineers IPO listing: Shares can surprise on higher side
The shares of the company may surprise the markets and might make a grand debut to list even above its grey market premium. The company’s strong fundaments, competitive advantages like high entry barriers and switching costs, experienced management team, and robust growth outlook hint at strong listing. Further, the company is a proxy play on India becoming the global manufacturing hub. Our recommendation for the investors is to hold the allotted shares and long-term investors can accumulate the stock on dips- Aayush Agrawal, Senior Research Analyst, Swastika Investmart Ltd,
What Harsha Engineers International Limited do?
Harsha Engineers International Limited is one of the largest manufacturers of precision bearing cages in organised sector in India. The company’s products find their application in the automotive, railways, aviation & aerospace, construction, mining, agriculture, electrical and electronics, renewables sectors, etc.
Harsha Engineers IPO expected to list in Rs 450-500 range: Anil Singhvi
Zee Business Managing Editor Anil Singhvi said Harsha Engineers IPO is expected to list in RS 450-500 range against its issue price of Rs 330. He recommended long-term investors to hold the shares and advised short-term investors to maintain a stoploss of Rs 400 and trail.
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