HomeBusinessHarsha Engineers' public offer subscribed 74.70 times on the last day of...

Harsha Engineers’ public offer subscribed 74.70 times on the last day of the offer

Harsha Engineers' public offer subscribed 74.70 times on the last day of the offer

There was a fresh issue of up to Rs 455 crore in the IPO of up to Rs 755 crore.

New Delhi:

The initial public offer (IPO) of Harsha Engineers International was subscribed 74.70 times, helped by heavy demand from institutional buyers on Friday, the last day of membership.

According to NSE data, the public offering received bids for 125.96 crore shares against 1.68 crore shares.

For Qualified Institutional Buyers (QIBs), the quota was subscribed 178.26 times, while the share of non-institutional investors was subscribed 71.32 times.

The Retail Individual Investors (RII) category was subscribed 17.63 times.

On Wednesday, the first day of IPO subscription of Harsha Engineers was fully subscribed.

IPO up to Rs 755 crore had fresh issue up to Rs 455 crore and sale offer up to Rs 300 crore.

The offer price range was Rs 314-330 per share.

Up to Rs 270 crore proceeds from the fresh issue will be used for loan repayment, up to Rs 76 crore for financing working capital requirements for machinery purchase, up to Rs 7.12 crore for infrastructure repair and refurbishment of existing production will be used. For features and general corporate offers.

The company has five manufacturing facilities, with two major manufacturing facilities at Changodar and Moraiya near Ahmedabad in Gujarat, and one each in Changshu, China and Ghimbav Brasov in Romania, serving its customers in more than 25 countries. allows access. ,

Axis Capital, Equirus Capital and JM Financial were the managers of the offer.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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