Motilal Oswal IPO report on Harsha Engineers International
Harsha Engineers International Ltd (HEIL) is the largest manufacturer of precision bearing cages in India (brass/steel/polyamide) with 50-60% market share in the organized market. It is also one of the leading players globally with market share of 6.5% for brass, steel and polyamide cages in CY21 (forming 75% of global bearing cage requirement). It caters to each of the top six global bearing companies and derives 75% revenue from this segment.
Valuation and Outlook
Given growth recovery in auto/auto ancillary and strong momentum in the midcaps, we expect the IPO to do well. We suggest investors to Subscribe for listing gains.
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