Harsha Engineers IPO Subscription 74.65 Times Overall

Harsha Engineers IPO Subscription Status:

The Harsh Engineers International Limited IPO will be open on 14th September 2022 and close date is 16 September 2022 if you look subscription status this ipo is subscribe 74.65 times in over all category good response on this ipo by investors. also this ipo sine good returns on listing day. Over subscribe of all category so expected good return on this ipo.

Harsha Engineers IPO Subscription Status

As of 16 september 2022, Friday 5:00 PM IST.

Harsha Engineers International IPO Details

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QIB Portion

On 13th September 2022, Harsha Engineers International Ltd did an anchor placement of 68,40,855 shares at the upper end of the price band of Rs.330 to 23 anchor investors raising Rs.225.75 crore. The list of QIB investors included a number of marquee global names like American Funds Insurance, Goldman Sachs India Fund and Abu Dhabi Investment Authority (Monsoon). Domestic anchor investors included Whiteoak Capital, HDFC Mutual Fund, SBI Mutual Fund, Pinebridge India Fund, Nippon MF, ICICI Pru MF, DSP MF, L&T MF and SBI Life Insurance.

The QIB portion (net of anchor allocation as explained above) has a quota of 47.93 lakh shares of which it has got bids for 8,543.74 lakh shares at the close of Day-3, implying a subscription ratio of 178.26X for QIBs at the close of Day-3. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement had given an indication of the institutional appetite for the Harsha Engineers International Ltd IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 71.31X (getting applications for 2,563.39 lakh shares against the quota of 35.95 lakh shares). This is a relatively strong response on Day-3 but of course this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed an impressive 17.53X at the close of Day-3, showing strong retail appetite. It must be noted that retail allocation is 35% in this IPO. For retail investors; out of the 83.88 lakh shares on offer, valid bids were received for 1,470.67 lakh shares, which included bids for 1,246.50 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.314-Rs.330) and has closed for subscription as of the close of Friday, 16th September 2022.

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