Harsha Engineers IPO: Harsha Engineers stock market listing on 26 September, Check today's GMP

New Delhi: After getting a stellar response in its Initial Public Offer, Harsha Engineers IPO allotment was announced on Wednesday (September 21). All eyes are now set on the stock market listing of Harsha Engineers which is likely to take place on Monday (September 26)

As per today's GMP, Harsha Engineers  is available at a premium of Rs 185. The Harsha Engineers latest GMP is Rs 15 higher from its yesterday’s low of Rs 170.

Harsha Engineers stock market debut

According to market analysts, Harsha Engineers initial public offering (IPO) shares could make a positive debut on the public bourses on Monday. The company will be listed on both NSE and BSE.

Harsha Engineers IPO subscribed 74.70 times on last day of offer

The Initial Public Offer (IPO) of Harsha Engineers International got subscribed 74.70 times, helped by heavy demand from institutional buyers, on the last day of subscription on Friday (19 September, 2022).

The public offer received bids for 125.96 crore shares against 1.68 crore shares on offer, according to a data with the NSE.

The quota for Qualified Institutional Buyers (QIBs) got subscribed 178.26 times, while the portion for non-institutional investors received 71.32 times subscription.

The category for Retail Individual Investors (RIIs) got subscribed 17.63 times.

The IPO of up to Rs 755 crore had a fresh issue of up to Rs 455 crore and an offer for sale of up to Rs 300 crore.
The price range for the offer was at Rs 314-330 a share.

Proceeds from the fresh issue to the tune of up to Rs 270 crore will be utilised for debt payment, up to Rs 76 crore for funding working capital requirements towards purchase of machinery, up to Rs 7.12 crore for infrastructure repairs and renovation of the existing production facilities and for general corporate proposes.

With PTI Inputs