Harsha IPO GMP Allotment Status

Harsha Engineers' Rs 755 crore IPO opened between September 14-16. Under this, new shares worth Rs 455 crore will be announced and existing shareholders will sell shares worth Rs 300 crore under the Offer for Sale (OFS) window. The price band for the issue was Rs 314-300 per share and the lot size was 45 shares. Eligible employees will get shares at a discount of Rs 31 per share. The most subscribed IPO of this year

The IPO received a great response from investors and the portion reserved for the highest qualified institutional buyers was subscribed. QIB's share was subscribed 178.26 times, NII's (Non-Institutional Investors) 71.32 times, retail investment 17.63 times and employees' share 12.07 times.

According to domestic brokerage and research firm ICICI Direct, the company's revenue grew by 22.1 percent, EBITDA by 40.2 percent and net profit (profit after tax) by 104.9 percent at a CAGR (compound annual growth rate) in the financial year 2020-22. Based on the demand in the bearing space in the current economic situation, the analysts of the brokerage firm believe that the company's business will continue to grow. In that, ICICI Direct gave it a subscribe rating. As for the risk for investors in this scrip, fluctuations in foreign currency prices and sluggishness at the global level may affect its business. Stepwise way to check status on registrar's site

Check IPO Allotment 👇

- https://www.linkintime.co.in/IPO/public-issues.html IPO allotment can be checked on registrar's site. For this go to this link after the announcement of allotment.

- Here you will see three options

- PAN Card Number, Application Number and DP Client ID. Select one of those options.

- If PAN card option is selected then select IPO and fill PAN number. If Application Number is selected then fill the Application Number and if DP Client ID is selected then the Depository Client ID is selected.

- After that fill captcha and submit.

- You will see the status of your application i.e. how many shares you have applied for and how many shares have been allotted, the complete details will be seen on the screen. Check the allotment status on BSE website like this

- https://www.bseindia.com/investors/appli check.aspx allotment status can be checked through this direct link on BSE.

- Select Equity in Issue Type and select Issue Name Harsha Engineers from the drop down menu.

- Enter Application Number or PAN Number.

- Click on "I am not Robot" and click on Search tab.

- Allotment status of shares will be seen on the screen. Share prices in gray market

Talking about the gray market,

the trend here is positive regarding Harsha Engineering. According to IPOWatch, shares of Harsha Engineers are trading at a premium price of Rs 240 in the gray market i.e. the IPO upper band of Rs 330 + Rs. 240 = Rs. Harsha Engineers share price is currently trading around 570 in the gray market. Which is at around 75 percent premium over its offer price. In view of this, the listing of Harsha's shares is likely to be done at a very premium price. However, it is not appropriate to rely only on the gray market premium for the listing price, for this, different market factors have to be looked at.