Harsha engineers is the largest bearing cage manufacturing company Since 1986. Today its share price is 487 Rupees per share. It is the international company organized sector in India in terms of capacity and procedures and between the leading manufacturers of precision bearing cages in the world. With a market share of approximately 5% to 6% in the prearranged segment of the global brass, steel, polyamide bearing cages in terms of income. It has a revenue range is Over INR 500 cr for the financial year ending on 31 March 2020.
It is a technology-driven company with a durable focus on research and development especially It has allowed us to develop products suited to their customer’s necessities. They have the expertise to design and develop advanced tooling in-house which allows them to manufacture complex products.
Harsha engineer products and services?
The cages which are made by these companies are especially, made up of high polymer materials with durability and are lightweight and corrosion resistant.
They offer the following categories
- Deep Groove Ball Bearings
- Self-Aligning Ball Bearings
- Cylindrical Roller Bearings
- Angular Contact Ball Bearings
- Taper Roller Bearings
- Thrust Ball Bearings
- Cylindrical Roller Thrust Bearings
In the current years, automotive and industrial stamping has emerged as a key market segment, where this company provide all-inclusive metal stamping solutions ranging from simple to complex designs and geometries. It has the capability to manufacture high-precision component parts as well as semi-assembled modular units that are built on their assembly.
The main supplies of this company are:
- Automotive Industry
- Bearing and Sealing
- Electrical & Appliance Industry
Why Harsha Engineers’ share price is high?
It has about 50-60% of the market share in the organised section of the Indian bearing cages market and 6.5% of the market share in the global organised bearing cages market for brass, steel, and polyamide cages in CY 2021.
In the financial year 22, the company’s revenue registered a sturdy growth to ₹1,321.5 crores versus ₹873.7 crores in FY21 and ₹885.8 crores in FY20. Profit After Tax climbed to ₹91.9 crores in FY22 against ₹45.4 crores in FY21 and ₹21.9 crores in FY20. As of March 31, 2022, the company’s EBITDA and Profit After Tax margin stood at 14.1% and 6.9% respectively.
Harsha Engineer IPO allowance
In its red herring list, Harsha Engineers stated that the “Company is required to complete allotment pursuant to the Offer within six working days from the Bid/Offer Closing Date.”
That said, Harsha engineers is expected to assign shares to eligible purchasers in the IPO, on September 21.
The business will probably enter the market on September 26, 2022. The NSE and BSE will both list it.
Harsha Engineers IPO
Harsha Engineers launched its initial public offer (IPO) for a rising ₹755 crores. On Day 3, the IPO was oversubscribed by a massive 74.70 times. The portion reserved for QIBs overcontributed by a whopping 178.26 times, while the portion for the NII category (HNIs) subscribed by 71.32 times.
Harsha Engineers International IPO received an over-contribution of 74.70 times on the last day of the public offer. Qualified institutional buyers made the highest bidding in the IPO followed by high-net-worth customers. Marketing investors also showed strong demand for the IPO.