Leading precision bearing cages manufacturer Harsha Engineers International on September 21 finalised the IPO share allotment, which was eagerly awaited by investors especially after healthy response to the initial public offering last week.
Investors can check their allotment status online, either on the BSE website or on the portal of IPO registrar. Here's a step-by-step guide:
On the BSE website:
a) Select issue type 'equity' and issue name 'Harsha Engineers International Limited'
b) Enter either 'application number' or 'PAN number'
c) Click on the check box "I'm not a robot" and finally click on 'search' button
Alternatively, the allotment can also be checked on the IPO registrar's website:
a) Select company 'Harsha Engineers International Limited - IPO'
b) Either enter your 'PAN number', or 'application number', or DP/Client ID, or account number/IFSC'
c) And finally click on 'submit' button.
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Since the share allotment has been finalised, the refunds will be credited to the bank accounts of unsuccessful investors by September 22, and those who have won the bid will receive shares in their demat accounts by September 23.
Shares of Harsha Engineers will make their stock market debut on September 26 as per the schedule.
The company came out with a public issue to raise Rs 755 crore which comprised a fresh issue of Rs 455 crore and an offer for sale of Rs 300 crore by promoters. The price band for the offer, which opened for subscription from September 14-16, was kept at Rs 314-330 per share.
The offer received a robust response from investors, and got subscribed 74.7 times.
Harsha Engineers International is the largest manufacturer of precision bearing cages (critical component within bearings), in terms of revenue, in organised sector in India with 60 percent market share. It is also amongst the leading manufacturers of precision bearing cages in the world with 6.5 percent market share.
It caters to customers with over 50 percent global market share in bearing industry. It also has a solar EPC business (which contributed 6 percent to revenue), providing turnkey solutions to all solar photovoltaic requirements.
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