Harsha Engineers IPO GMP Share Allotment on Wednesday (September 21): The initial public offering (IPO) of Harsha Engineers International, a manufacturer of precision bearing cages, was subscribed 74.70 times during the subscription period from September 14-16, 2022. The price band was fixed at Rs 314-330 per share.
The Rs 755 crore Harsha Engineers IPO consists of a fresh issue of equity shares aggregating to Rs 455 crore, and an offer-for-sale (OFS) of up to Rs 300 crore by existing shareholders.
The net proceeds from the fresh issue will be utilised for pre-payment or scheduled repayment of a portion of the existing borrowing availed by the company, funding capital expenditure requirements towards purchase of machinery, infrastructure repairs and renovation of its existing production facilities including office premises in India and general corporate purposes.
Investors are now looking forward to the share allotment date of Harsha Engineers International IPO. The company is likely to finalise the allotment by Wednesday, September 21, 2022, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for Harsha Engineers IPO, then here is how you can check the status of your allotment when it gets declared:
The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Harsha Engineers International Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.
Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select HARSHA ENGINEERS INTERNATIONAL LIMITED from the drop-down list in the Issue Name section, enter their Application Number or PAN Number in the respective box. Then they have to check on the ‘I am not a robot’ box and then click on search to view their status.
The listing of shares of Harsha Engineers International is likely to take place on Monday, September 26, 2022, on both the NSE and BSE.