Harsha Engineers IPO was a rousing success, Shares sold at a 36% premium to their issue price

Harsha Engineers IPO was a rousing success, Shares sold at a 36% premium to their issue price: A stellar debut for Harsha Engineers International, with shares trading 36.36 percent above their IPO issue price of Rs 330 on the NSE today.

(Also Read: Harsha Engineers IPO share allotment: Check the grey market premium, Status via BSE, and registrar; listing on September 26

The company’s market cap rose to Rs 4,097 crore. Additionally, 24.56 lakh shares were traded on the NSE, resulting in a turnover of Rs 110.55 crore.

Stocks were listed at 444 rupees (34.55 percent) on the BSE against an issue price of 330 rupees per share. Market capitalization reached Rs 4,042 crore. According to the BSE, total shares traded totaled 1.69 lakh, resulting in a turnover of Rs 7.49 crore.

Harsha Engineers IPO was a rousing success, Shares sold at a 36% premium to their issue price

The share sale had a price range of 314 to 330 rupees per share, and the IPO was subscribed to by 74.70 times the total shares offered on the last day of bidding.

The company holds its IPO from March 15 to March 19 and it has successfully sold 1,25,96,90,175 shares out of the total 1,68,63,795 shares that are up for sale on the BSE. For retail investors, the allotment was taken up 17.66 times. For qualified institutional investors, it was taken up 178.26 times.

Individual investors could submit bids for up to 13 lots or 585 shares, for a total investment of Rs 1,93,050, under Harsha Engineers’ IPO.

IPO lead managers were Axis Capital Limited, Equirus Capital Private Limited, and JM Financial Consultants.

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