Harsha Engineers IPO Latest GMP: Harsha Engineers IPO Latest GMP Today: More than 60% profit estimated on listing, know what is the status of subscription

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New Delhi: Today is the second day to subscribe to Harsh Engineers IPO. This IPO had received a total subscription of 5.10 times till 11:42 am on the second day fixed for subscription. In this way, this IPO has got a very good response so far. In the category of Qualified Institutional Buyers (QIBs), this IPO was subscribed just 0.09 times. However, it was subscribed 10.98 times in the category of non-institutional investors and 5.48 times in the category of retail investors. At the same time, it got 3.97 times subscription in the reserve category for employees.

Harsh Engineers IPO Latest GMP (Harsh Engineers IPO Latest GMP)

Analysts seem quite optimistic about this IPO. Meanwhile, according to Market Observers, shares of Harsh Engineers are available in the gray market on Thursday with a premium (GMP) of Rs 203. The company has fixed a price band of Rs 314-330 for this IPO. If the gray market premium is considered, then it is expected that the listing of this IPO can be done at the level of Rs 533 i.e. Rs 203 above the upper price band of the IPO price. If this happens, then investors will get more than 60 per cent profit on the listing itself.

Know about Harsh Engineers IPO

Harsh Engineers has set a price band of Rs 314-330 for its Rs 755 crore IPO. Under this IPO, the company will issue new shares worth Rs 455 crore. At the same time, the existing promoters will offer shares worth Rs 300 crore. The last date to invest in this IPO is September 16, 2022.

Out of the proceeds from the issue of new shares, Rs 270 crore will be used for working capital requirements like paying off debt, buying machinery, and Rs 76 crore. At the same time, Rs 7 crore will be used for infrastructure repair and renovation of existing production facilities and other corporate purposes.

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