Harsha Engineers IPO today. Experts predict handsome gains

The IPO date for Harsha Engineers has been set and shares of India’s largest manufacturer of precision bearing cages will hit Dalal Street on September 26, 2022, i.e. today. In accordance with the information available on the ESB website, effective Monday 26 September 2022, shares of Harsha Engineers International Limited will be listed and admitted to trading on the stock exchange in the list of Group “B” securities. Therefore, Harsha Engineers actions will be part of the Special Pre-Opening Session (SPOS) on Monday, September 26, 2022.

According to stock market experts, despite the loss of momentum in the gray market, Harsha Engineers’ IPO could offer an attractive gain to its beneficiaries. They said that Harsha Engineers IPO GMP (gray market premium) may have plunged from 240 to 150 per share (According to market watchers, Harsha Engineers stock price is quoted at a premium of 150 per share on the gray market today), but beneficiaries can expect a listing gain of up to 50% from the public offering on its listing date. They said the gray market is not an ideal indicator of the success or failure of a public offering and shares of Harsha Engineers should prove that with a “great debut” in trading today.

Expecting a strong gain from Harsha Engineering’s IPO, Astha Jain, senior research analyst at Hem Securities, said: “We expect Harsha Engineers shares to be listed at a premium of 40 at 45% against the issue price We recommend reserving a partial profit while remaining can be retained for the long term as a total solution provider offering a diverse range of precision engineering products across geographies and end-user industries has long-standing relationships with industry-leading customers. The company’s domestic and international production facilities and warehouses are strategically located and its expertise in tooling, design development and l Automation with a consistent track record of growth and financial performance looks solid to us.”

Harsha Engineers IPO Price Prediction

Regarding the expected IPO price of Harsha Engineers, Prashanth Tapse, Research Analyst and Senior Vice President – Research at Mehta Equities Ltd, said: “Despite the uncertainty in the stock markets, Harsha Engineers is signaling a strong start. at a significant premium to its issue price of 330/- per share. Given the excellent response from the investor category, we assume that Harsha Engineers could list approximately 480 to 500 levels, which translates to more than a 45-51% premium to the upper end of the IPO price range.”

The Mehta Equities analyst went on to add that on valuation per se, the asking price is fairly valued against its industry peers. “We are very bullish on Harsha Engineers with its dominant position and well positioned to exploit the growth of specialist precision components and bearing cage demand across all industries,” he said.

Expecting a “great debut” from Harsha Engineers shares on Dalal Street, Aayush Agrawal, senior research analyst at Swastika Investmart, said: “We believe the company could surprise markets and could make a great debut for s above its gray market premium. Solid fundamentals, competitive advantages such as high barriers to entry and high switching costs, an experienced management team and robust growth prospects explain the good health of the GMP. Additionally, the company is a proxy play on India becoming the global manufacturing hub. Our recommendation to investors is to hold the allocated shares and long-term investors can build the stock on declines.”

Harsha Engineers share price in the gray market today

According to market watchers, Harsha Engineers IPO GMP today is 150, which means that the gray market expects the public issue to be able to list approximately 480 ( 330+ 150), which is around 45% higher than its upper price range of 330 per share.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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