New Delhi: Harsha Engineers IPO GMP (grey market premium) today suggests that its subscribers will see an impressive debut.
According to the current GMP, Harsha Engineers is accessible at a price of 215 Rs. Harsha Engineers IPO allotment likely to be released on September 21.
Harsha Engineers stock market debut
Market analysts believe that Harsha Engineers initial public offering (IPO) shares are likely to make a an impressive debut on public exchanges.
Harsha Engineers listing is likely to occur on the 26th of September 2022. It will have its name listed both on NSE as well as BSE.
Harsha Engineers IPO subscribed 74.70 times on the last day of offering
The Initial Public Offering (IPO) of Harsha Engineers International got subscribed 74.70 times, assisted by the huge demand from buyers of institutional nature, on the final day of the IPO that fell on a Friday (19 September 2022).
The public auction was flooded with bids for 125.96 crore shares , compared to 1.68 crore shares offered in accordance with a report provided by the NSE.
The quota for Qualified institutional Buyers (QIBs) was subscribed 178.26 times while the portion for non-institutional investors got 71.32 times the subscription.
The category of Individual investors in Retail (RIIs) was subscribed 17.63 times.
The IPO with a maximum value of 755 crores was followed by an additional issue of upto Rs 455 crore as well as an offer to sell up to 300 crore.
The price range of the offering was between three hundred and 330 rupees per share.
The proceeds of the fresh issue approximately Rs.270 crore could be used for debt repayment up to Rs 76 crore to fund working capital requirements for the purchasing machinery,
and up to 7.12 crore for infrastructure repair and the renovation of existing manufacturing facilities, and general corporate proposals.