Business

Listing Of Harsha Engineers Will Happen In The Stock Market On September 26

Despite the huge fall in the domestic stock market in the last three days, it is expected that the stock of Harsha Engineers will list in the market with a handsome premium over its IPO price of Rs 300 per share. Let us tell you that the IPO subscription of Harsha Engineers was open on 14 September. By September 16, the last day of its bidding process, the company’s IPO was oversubscribed by 74.70 times. The listing of its shares in the market is to be done on September 26.

The IPO of Harsha Engineers had shown great interest from the investors. Market experts believe that the company’s shares can be listed in the equity market at a price of Rs 480 to Rs 550. If this were to happen, investors would get a premium of 45 to 51 percent on the upper left of the IPO price band. Explain that the company had fixed a price band of Rs 314-330 during its public issue.

The IPO was oversubscribed 178.26 times in the reserved quota for qualified institutional investors during the public issue. Similarly, the quota fixed for non-institutional investors and retail investors was also oversubscribed 71.72 times and 17.63 times respectively. The product segment of Harsha Engineering saw great demand among investors during the public issue due to a virtual monopoly business model emerging. This is justifying the listing of the company’s shares in the equity market with a higher premium.

The company’s valuation value is great compared to its competitors in the business world. Equity market experts are looking at the listing of Harsha Engineers very positively. They are also advising that this will also be a good opportunity for profit booking for the investors who have been allotted shares in the IPO.

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