Shares of Harsha Engineers International made a great debut today, listing at 36.36 per cent premium to their IPO issue price. The company posted 450, up 36.36 per cent on the NSE against the IPO issue price of Rs 330. The firm's market cap rose to Rs 4,097 crore. The firm's shares changed hands for a turnover of Rs 110.55 crore on the NSE, with total 24.56 lakh shares changing hands.
The stock was priced at Rs 444 34.55 per cent on the BSE compared to the issue price of Rs 330 per share. The firm's market cap rose to Rs 4,042 crore. The firm's total of 1.69 lakh shares has changed hands, amounting to a turnover of 7.49 crore on the BSE.
ALSO READ: Harsha Engineers shares to list on September 26, here's what to expect.
The share sale had a price band of Rs 314 to Rs 330 per share. The IPO was subscribed 74.70 times on the last day of the bidding process on September 16. The IPO was held from March 15 to March 19. According to an update on the BSE, the IPO received 1,25, 96,90, 175 shares against 1,68, 63,795 shares on offer. The portion for retail investors was fully subscribed 17.66 times, while the portion for qualified institutional buyers was subscribed 178.26 times.
The lot size of Harsha Engineers IPO was 45 shares for which one would have to spend Rs 14,850. A retail individual investor could submit bids for up to 13 lots or 585 shares by spending Rs 1,93,050. The IPO's management included Axis Capital Limited, Equirus Capital Private Limited and JM Financial Consultants.