IPO
Precision components maker Harsha Engineers' IPO oversubscribed 75 times
The initial public offering (IPO) of Ahmedabad-based Harsha Engineers International (HEIL) saw 75 times more demand than shares on offer, making it the most oversubscribed issue for 2022. The institutional investor portion was subscribed 178.3 times, the high net worth individual (HNI) portion by 71 times, the retail investor portion by 18 times and the portion reserved for employees by 12 times. HEIL is a manufacturer of precision bearing cages, welded assemblies and brass castings. The company had set a price band of INR 314-330 per share for the IPO, which consisted of INR 455 crore fresh issue and a secondary share sale of INR 300 crore. At the top end of the price band, HEIL is valued at about INR 3,000 crore.
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