Harsha Engineers International Limited initiated its business operations in 2010. The firm has been leading the manufacturing of precision bearing cages in the organised sector. It’s a part of the Harsha Group. Harsha Engineers is involved with trade in 25 countries in continents such as Europe, Asia, Africa, South America and North America.
The entire work is divided into 2 segments. First is Engineering business and second is Solar EPC Business. The first ones include production of bearing cages, welded assemblies etc. While the latter business includes providing complete comprehensive turnkey solutions to all solar photovoltaic requirements and provides operations and maintenance services in the solar sector.
It has 5 manufacturing facilities. They are located in India and out of India as well. Two out of 5 facilities are in Gujarat and others are in Changsu, China and Romania respectively. The company has three subsidiaries named as Harsha Precision Bearing Components (China), HASPL American Corp.(America) and Harsha engineers B.V. (Netherland). It also has a step down subsidiary named Harsha Engineers Europe SRL in Romania.
IPO DETAILS
Harsha Engineers International Ltd IPO is set to launch on 14th Sept, 2022. The subscription timeline extends till 16th Sept, 2022. The size for the IPO is 755 Crore Rs.. Shares issued through fresh issues are worth Rs. 455 Crore Rs. Shares issued through Offer For Sale are worth Rs. 300 Crore Rs. The lot size is 45 shares and the price range is 314 Rs. – 330 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 10 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
| IPO OPENING DATE | 14th Sept, 2022 |
| CLOSING DATE FOR IPO | 16th Sept, 2022 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 314 Rs. – 330 Rs. |
| LOT SIZE | 45 shares |
| MINIMUM ORDER QUANTITY | 45 shares |
| ISSUE SIZE | 755 Crore Rs. |
| OFFER FOR SALE | 300 Crore Rs. |
| FRESH ISSUE | 455 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 26th Sept, 2022 |
IMPORTANT DATES
| IPO OPENING DATE | 14th Sept, 2022 |
| CLOSING DATE FOR IPO | 16th Sept, 2022 |
| IPO ALLOTMENT DATE | 21st Sept, 2022 |
| REFUNDS | 22nd Sept, 2022 |
| DEMAT A/C CREDITED ON | 23rd Sept, 2022 |
| IPO LISTING DATE | 26th Sept, 2022 |
Harsha Engineers International Ltd IPO begins for subscription from 14th Sept, 2022. The IPO subscription would continue till 16th Sept, 2022. The allotment status for the shareholders who applied would come on 21st Sept, 2022. The refunds for the ones who did not get allotment would be initiated on 22nd Sept, 2022. The DEMAT accounts of shareholders would be credited on 23rd Sept 2022. The listing of the company would be accompanied on 26th Sept, 2022.
Lead Managers
The lead managers are :
- JM Financial Consultants Private Limited
- Axis Capital Limited
- Equirus Capital Private Limited
The minimum lot size for the company is decided at 45 shares. This holding accounts to 14850 Rs.. The maximum lot size is decided at 585 shares. This amounts to 193050 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 45 shares | 14850 Rs. |
| Maximum | 585 shares | 193050 Rs. |
OBJECTIVES FOR THE IPO
- For General corporate purposes.
- To meet the future capital requirements.
- For receiving the listing benefits.
- Repairs and Maintenance of the existing production facilities.
COMPANY FINANCIALS
| Particularly (in Million Rs.) | 2021-22 | 2020-21 | 2019-20 |
| ASSETS | 1158 | 981 | 973 |
| Revenue | 1339 | 877 | 900 |
| PAT | 92 | 45 | 22 |
The financial figures of the company are not extremely satisfying however they are not that bad too. The company was posting a loss in 2019. However since 2020 they have been able to generate profits only. The profits have been increasing from 22 Million Rs to 92 Million Rs in 3 years. However on the other hand the revenue for 2020 was 900 Million Rs and it reduced to 877 Million Rs in next year. However the next revenu count jumped to 1339 Million Rs in 2022. The assets have been increasing at a slow rate as well. Hence one can consider the financials of the company to be improving at a slow pace.
PROS
- The company has 5 manufacturing facilities. They are located in Gujarat, China, Changsu and Romania.
- The company has been exporting its products to more than 25 countries across 5 continents.
- The financial figures are showing a slow increase in growth.
CONS
- The firm is working into a highly competitive segment.
- Decrease in Revenue during 2021 period.
Harsha Engineers International Ltd IPOAPPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section.
- Click the Harsha Engineers International Ltd IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
