Harsha Engineers IPO: Subscription to public issue after three days 755 crore, Harsha Engineers IPO Subscription Status This shows that the issue has received strong response from investors. Despite weak market sentiment, the public issue was subscribed 74.70 times, while its retail portion was subscribed 17.63 times. The Initial Public Offering (IPO) in the NII category has been subscribed 71.32 times while the QIB segment is subscribed 178.26 times. Meanwhile, after a strong response from investors, shares of Harsha Engineers have gained momentum in the gray market as well. According to market experts, shares of Harsh Engineers are available at a premium of Rs. 235 in the gray market today.
Harsha Engineers IPO GMP today
Harsha Engineers IPO is GMP (Grey Market Premium) today, market observers say 235, which is 5 More Than Its Friday’s GMP 230. He said that the jump may seem small but the way the bloodshed was witnessed on Dalal Street in Friday’s session, it is touching. He said that the gray market of Harsha Engineers IPO has been growing steadily since the opening of premium subscription. In the last four days, the IPO GMP of Harsha Engineers has increased by around 200 to 235 and the primary reason for this increase in GMP can be attributed to strong investor response.
What does this GMP mean?
Harsha Engineers IPO is GMP today, market observers say 235, which means the gray market is expecting the public issue to list approx. 565 ( 330+ 235), which is almost 70 percent higher than its price band from 314 330 per equity share. He said the gray market is indicating that the public issue may list at a premium of around 70 per cent on its listing date, most likely on September 26, 2022.
However, stock market observers said gray market sentiment could be artificial as it also includes those who have a high stake in the public issue. He said that the GMP of the public issue has nothing to do with its financial position and hence should not be trusted blindly. He advised investors to go with the basics and exit the balance sheet of the company as it would give a clear and solid picture about the fundamentals of the company.
Highlighting the fundamentals of Harsha Engineers International Ltd., Angel One’s report says, “In terms of valuation, the post-issue P/E works out to 32.7x FY22 EPS (at the upper end of the issue price band) of the company. Consolidated PAT has grown at a CAGR of ~105% during FY 20-22 on account of margin expansion. HEIL has a diversified product portfolio and strong expertise; we believe these positives are still reflected in the company’s controlled valuations. to be included.”
Harsha Engineers IPO Details
The tentative date for allotment of Harsha Engineers IPO is 21st September 2022. The public issue is proposed to be listed on both NSE and BSE and the tentative date of share listing is 26 September 2022.
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