Meanwhile, grey market has gone bullish on Harsha Engineers shares. Shares of the company are likely to be listed on the exchanges on September 26. The company’s revenue from operations increased by 51.24 per cent to Rs 1,321.48 crore for fiscal 2022, from Rs 873.75 crore for fiscal 2021, while profit after tax doubled to Rs 91.94 crore for fiscal 2022, from Rs 45.44 crore for fiscal 2021. Axis Capital Limited, Equirus Capital Private Limited, and JM Financial Consultants were the lead managers of the IPO. A retail individual investor could submit bids for up to 13 lots or 585 shares by spending Rs 1,93,050. The lot size of Harsha Engineers IPO was 45 shares for which one would have to spend Rs 14,850. The retail investors’ portion was subscribed 17.63 times. The qualified institutional buyer portion was subscribed 178.26 times, while the portion reserved for non-institutional investors witnessed a subscription of 71.32 times. Harsha Engineers IPO: Subscription Status The public offer received bids for 125.96 crore shares against 1.68 crore shares on offer, BSE data showed. The initial share sale of the Ahmedabad-based company got subscribed 74.70 times, helped by heavy demand from institutional buyers, on the last day of subscription (September 16). Harsha Engineers IPO GMP Today: After the share allotment of Harsha Engineers International’s initial public offering (IPO), all eyes are now on the stock market listing.
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