Harsha Engineers International Limited is the largest manufacturer of precision bearing cages in terms of sales in the organized sector in India. The company is part of the Harsha Group.
The company supplies its products to customers in more than 25 countries across five continents, namely North America, Europe, Asia, South America and Africa.
The business consists of two segments:
Engineering business, under which the company manufactures bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages & bronze bushings.
Solar EPC business, under which the company provide complete comprehensive turnkey solutions to all solar photovoltaic requirements and provides operations and maintenance services in the solar sector.
As of September 30, 2021, Harsha Engineers International has been able to manufacture more than 7,205 cage bearings and more than 295 other products for customers in the automotive, rail, aerospace, construction, mining, agriculture, electrical and renewable industries. . In addition, over the past three years, the company’s development and innovation center has developed more than 1,200 products in various types of bearings.
The company has five manufacturing facilities for its engineering business with two manufacturing facilities at Changodar and one at Moraiya near Ahmedabad, Gujarat, India and one each at Changshu, China and Ghimbav Brasov, Romania.
Harsha Engineers International Limited has three wholly-owned subsidiaries, one in China – Harsha Precision Bearing Components (China) Co. Ltd, one in the United States of America – HASPL Americas Corporation and one in the Netherlands – Harsha Engineers B.V., and a subsidiary in the country. Romania -Harsha Engineers Europe SRL.
Competitive Strengths
- Long-standing relationships with leading clientele.
- Comprehensive solution provider offering a diversified suite of precision engineering products across geographies and end-user industries.
- Strategically located domestic and international production facilities and warehouses.
- Expertise in Tooling, design development and automation.
- Consistent track record of growth and financial performance.
- Strong, experienced and dedicated senior management team and qualified workforce.
Is Harsha Engineers good for Investment?
Harsha Engineers International Limited is a certified Precision Engineering Company manufacturing Bearing Cages and Stamped Components. It is one of the largest entities in the sector and has a competitive capacity.
The company operates and delivers its products through its five manufacturing facilities.
Two of its principal facilities are at Changodar and one at Moraiya, near Ahmedabad, and one manufacturing unit each at Changshu in China and Ghimbav Brasov in Romania.
With such capabilities, the company caters to customers from about 25 countries.
Company Promoters
- Rajendra Shah
- Harish Rangwala
- Vishal Rangwala
- Pilak Shah
Company Financials
| Particulars | 30 Sep 2021 | 31 March 2021 | 31 March 2020 | 31 March 2019 |
| Assets | 1077.66 | 981.07 | 973.24 | 195 |
| Revenue | 637.62 | 876.73 | 899.5 | 117.9 |
| Profit After Tax | 43.71 | 45.44 | 21.91 | -27.41 |
Object Of The Issue
- Funding capital expenditure requirements towards purchase of machinery.
- Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.
- Infrastructure repairs and renovation of our existing production facilities including office premises in India.
- General corporate purposes.
Harsha Engineers International IPO Strengths
- Comprehensive solution provider offering diversified suite of precision engineering products across geographies and end-user industries.
- Long standing relationships with leading clientele.
- Strategically located domestic and international production facilities and warehouses.
- Expertise in Tooling, design development and automation.
Harsha Engineers International IPO Risks
- Depend on a limited number of customer groups for a significant portion of its revenue from engineering business.
- Inability to maintain relationships with its network of agents for fulfilment of needs of the customers or deficiency in the service provided by such agents may adversely affect the business.
- Any failure to obtain, renew or comply with necessary regulatory approvals and licenses may adversely affect the operations.
- The company and certain of its subsidiaries have unsecured loans that may be recalled by the lenders at any time.
- It also has certain contingent liabilities, which, if they materialize, may adversely affect the financial condition.
Harsha Engineers International IPO – Details
| IPO Opening Date | 14 September 2022 |
| IPO Closing Date | 16 September 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹755 Cr |
| Fresh Issue | ₹455.00 Cr |
| Offer For Sale | ₹300 Cr |
| Face Value | ₹10 per equity share |
| IPO Price | ₹314 – ₹330 |
| Market Lot | 45 Shares |
| Min Order | 45 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | LinkInTime India Private Limited |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Harsha Engineers International IPO – Date Schedule
| IPO Open Date | 14 September 2022 |
| IPO Close Date | 16 September 2022 |
| Basis of Allotment Date | 21 September 2022 |
| Initiation of Refunds | 22 September 2022 |
| Credit of Shares to Demat Account | 23 September 2022 |
| IPO Listing Date | 26 September 2022 |
Harsha Engineers International IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,850 |
| Retail (Max) | 13 | 585 | ₹1,93,050 |
| S-HNI (Min) | 14 | 630 | ₹2,07,900 |
| S-HNI (Max) | 67 | 3,015 | ₹9,94,950 |
| B-HNI (Min) | 68 | 3,060 | ₹10,09,800 |
Promoter Holding
| Pre Issue Share Holding | 99.70% |
| Post Issue Share Holding |
Harsha Engineers International IPO Prospectus
- Harsha Engineers International IPO DRHP
- Harsha Engineers IPO RHP
- Anchor Investors in Harsha Engineers IPO
Company Contact Information
| Harsha Engineers International Limited NH-8A, Sarkhej- Bavla Highway, Changodar, Ahmedabad 382213 Phone: +91 2717-618200 Email: sec@harshaengineers.com Website: http://www.harshaengineers.com/ |
Harsha Engineers International IPO Registrar
| Link Intime India Private Limited C 101, 247 Park L.B.S. Marg, Vikhroli (West), Mumbai 400 083, Maharashtra Tel: +91 22 4918 6270 E-mail: harshaengineers.ipo@linkintime.co.in Website: www.linkintime.co.in |
Harsha Engineers International IPO Lead Manager(s)
| 1. Axis Capital Limited 2. Equirus Capital Private Limited 3. JM Financial Consultants Private Limited |
Harsha Engineers International IPO FAQs
| What is Harsha Engineers International IPO? Harsha Engineers International IPO is a main-board IPO. The issue is priced at ₹314 to ₹330 per equity share. The IPO is to be listed on BSE & NSE. |
| When Harsha Engineers International IPO will open? The IPO is to open on 14 Sep 2022 for QIB, NII, and Retail Investors. |
| What is Harsha Engineers International IPO Investors Portion? The investors’ portion for QIB-50%, NII-15%, and Retail-35%. |
| How to Apply the Harsha Engineers International IPO? You can apply Harsha Engineers International IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Harsha Engineers International IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Harsha Engineers International”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Harsha Engineers International IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Harsha Engineers International”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Harsha Engineers International IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Harsha Engineers International”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Harsha Engineers International IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Harsha Engineers International”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Harsha Engineers International IPO Size? Harsha Engineers International IPO size is ₹752.24 Cr. |
| What is Harsha Engineers International IPO Price Band? Harsha Engineers International IPO Price Band is ₹314 to ₹330. |
| What is Harsha Engineers International IPO Minimum and Maximum Lot Size? The minimum bid is 45 Shares with ₹14,850 amount while the maximum bid is 585 shares with ₹1,93,050. |
| What is the Harsha Engineers International IPO Allotment Date? Harsha Engineers International IPO allotment date is 21 September 2022. |
| What is the Harsha Engineers International IPO Listing Date? Harsha Engineers International IPO listing date is 26 September 2022. The IPO is to list on BSE and NSE. |
