Everything You Need to Know About the Harsha Engineers Limited IPO

Harsha Engineers Limited is a manufacturer of precision bearing cages. It offers a diversified suite of precision engineering products across geographies and end-user industries.

Harsha Engineers operates in two business verticals:

  • Engineering business, under which it manufactures bearing cages, complex and specialized precision stamped components, welded assemblies and brass castings, and cages & bronze bushings.
  • Solar EPC (Engineering Procurement and Construction) business, under which the company provides turnkey solutions to all solar photovoltaic requirements.

The company supplies its products to customers in over 25 countries covering five continents, North America, Europe, Asia, South America, and Africa. And as of CY 2020, the company approximately held a market share of 50% in the organized segment of the Indian bearing cages market and 5.2% of the market share in the global organized bearing cages market for brass, steel, and polyamide cages as per the CARE Advisory Report.

Through the public offer Harsha Engineers aims to raise up to Rs. 755 crores, the issue comprises a fresh issue of equity shares aggregating up to Rs. 455 crores and an offer for sale of equity shares worth Rs. 300 crores from existing shareholders.

Financial Snapshot

Financial Year Ended Revenue (₹ Crores) PAT (₹ Crores) EPS (₹)
March 2019 117.91 -27.41 -13.7
March 2020 899.51 21.909 3.52
March 2021 876.73 45.439 5.88
September 2021 637.63 43.707 5.66

For more information, you can check out the IPO Prospectus filed by the company:

IPO Details

Issue Period 14th September 2022 to 16th September 2022
Price Range 314 – 330
Minimum Bid Quantity 45 and in multiples thereof
Finalization of Allotment 21st September 2022
Initiation of Refunds 22nd September 2022
Credit of Shares 23rd September 2022
Date of Listing 26th September 2022
Mandate end date 2nd October 2022
Anchor Investors Lock-in End Date 16th October 2022

How do I apply to the Harsha Engineers Limited IPO?

You can apply for the Harsha Engineers Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Harsha Engineers Limited IPO?

You can check the allotment status for the Harsha Engineers Limited IPO on the website of the Registrar and Transfer agent.

Alternatively, you can also check the allotment status on the NSE website.


What is the difference in applying for 2 bids(at cut off price) and applying for 2 lots by doubling the shares of a lot in same bid?

Bids are used to apply at different price points.

When the allotment is done, depending on which bid qualifies for allotment, only that bid will be accepted.

If you place 2 bids for 1 lot each, if you receive allotment, you will receive only for one lot not 2. Similarly, if you place only 1 bid for 2 lots, if you receive allotment, you can get allotment for both lots.

This support article explains it in detail:

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For the ongoing Harsha IPO, I mistakenly put two applications: one in sHNI (for Rs 2L) via UPI at Zerodha and other in bHNI (for Rs 10L) via ASBA.

Will my applications get rejected?

This is my first time applying in HNI so I am not sure of what happens in this case.


Multiple applications are liable to be rejected by the RTA.

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