Harsha Engineers ipo subscribe: Harsha Engineers IPO: Harsh Engineers IPO open for subscription, should you invest money

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New Delhi: Harsh Engineers International’s (HEIL) initial public offer (Harsha Engineers IPO) of Rs 755 crore became open for subscription on Wednesday. This IPO can be subscribed till September 16, 2022 (Friday). The company has fixed a price band of Rs 314-330 for this IPO. The company is also giving a discount of Rs 31 per share to eligible employees. The company has fixed a lot of 45 shares for this IPO.

Under this IPO, the company will issue new shares worth Rs 455 crore. At the same time, existing shareholders and promoters will offer (OFS) shares worth Rs 300 crore. Under this OFS, existing promoters like Rajendra Shah, Harish Rangwala, Pilak Shah and Charushila Rangwala and Nirmala Shah will sell shares worth a total of Rs 300 crore.

Should I subscribe to this IPO or not?
Most of the brokerages are very optimistic about this issue and have advised to subscribe to this IPO. However, some have cited jump in raw material prices and dependence on large clients as major concerns.

Let us know what the brokerage has to say:

Nirmal Bang Equity Research has advised to subscribe to this IPO. Similarly, Motilal Oswal Financial Services has suggested to subscribe to this IPO to make profit on listing. Religare Broking has given neutral rating to this IPO. Canara Bank Securities has advised to subscribe to this IPO to earn profit on long term and listing. Apart from these, Choice Broking and BP Equities have also suggested investing in this IPO.

Harsha Engineers IPO GMP
According to market analysts, shares of Harsh Engineers are available on Wednesday at a premium of Rs 210 (GMP) in the gray market. This shows a jump of 60 per cent from the upper price band of the company. The company’s shares are likely to be listed on BSE and NSE on September 26, 2022.

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