{"id":21136,"date":"2022-02-04T11:00:30","date_gmt":"2022-02-04T05:30:30","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-harsha-eng\/"},"modified":"2022-02-04T11:00:30","modified_gmt":"2022-02-04T05:30:30","slug":"biz-ipo-harsha-eng","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-harsha-eng\/","title":{"rendered":"Harsha Engineers files draft papers with Sebi to raise Rs 755 cr via IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3358524150\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Feb 4 (PTI) Harsha Engineers International, a manufacturer of precision bearing cages, has filed a preliminary prospectus with markets regulator Sebi to raise Rs 755 crore through an initial public offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1740871120\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The public issue consists of a fresh issue of equity shares aggregating to Rs 455 crore, and an offer for sale (OFS) of up to Rs 300 crore by existing shareholders, according to the draft red herring prospectus (DRHP).<\/p>\n<p>The OFS comprises up to Rs 66.75 crore by Rajendra Shah, up to Rs 75 crore by Harish Rangwala, up to Rs 16.50 crore by Pilak Shah, up to Rs 75 crore by Charusheela Rangwala and up to Rs 66.75 crore by Nirmala Shah.<\/p>\n<p>The offer includes a reservation for subscriptions by eligible employees.<\/p><div class=\"trade-content_5\" id=\"trade-950559966\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Proceeds from the fresh issue will be utilised to the tune of up to Rs 270 crore for debt payment, up to Rs 77.95 crore for funding working capital requirements towards the purchase of machinery, up to Rs 7.12 crore for infrastructure repairs and renovation of the existing production facilities and general corporate proposes.<\/p>\n<p>This is the Ahmedabad-based company&#8217;s second attempt to go public. Earlier, it had filed its draft papers with the regulator in August 2018.<\/p>\n<p>The company has five manufacturing facilities with two of its principal facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, and one manufacturing unit each at Changshu in China and Ghimbav Brasov in Romania, which allow access to its customers in over 25 countries.<\/p>\n<p>Harsha Engineers has reported a profit of Rs 45.44 crore and revenue of Rs 873.75 crore for FY21, with two-thirds of the income coming from outside India for the last three fiscals.<\/p>\n<p>For the six months ended September 30, 2021, it clocked a profit of Rs 43.71 crore and revenue of Rs 629.46 crore.<\/p>\n<p>Axis Capital, Equirus Capital and JM Financial are the book running lead managers to the issue. PTI SP  BAL BAL<\/p><div class=\"trade-content-10\" id=\"trade-992277269\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-58553908\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 4 (PTI) Harsha Engineers International, a manufacturer of precision bearing cages, has filed a preliminary prospectus with markets regulator Sebi to raise Rs 755 crore through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares aggregating to Rs 455 crore, and an offer for sale [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-21136","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Harsha Engineers files draft papers with Sebi to raise Rs 755 cr via IPO - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ipo-harsha-eng\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harsha Engineers files draft papers with Sebi to raise Rs 755 cr via IPO\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 4 (PTI) Harsha Engineers International, a manufacturer of precision bearing cages, has filed a preliminary prospectus with markets regulator Sebi to raise Rs 755 crore through an initial public offering (IPO). 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