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Saturday, September 17, 2022

Harsha Engineers IPO: What is a GMP signals after are a strong subscription?

Harsha Engineers IPO: What is a GMP signals after are a strong subscription?



Harsha Engineers IPO GMP today is a ₹235, say market observers

Harsha Engineers IPO: After three days are a subscription of the public issue worth a ₹755 crore, Harsha Engineers IPO subscription status reflects that the issue has been a received strong response from investors. Despite weakness in a stock market sentiments, the public issue got a subscribed 74.70 times whereas its a retail portion got subscribed a17.63 times. The initial public offer (IPO) has been a subscribed 71.32 times in a NII category while QIB portion has been a subscribed 178.26 times. Meanwhile, after a strong response from investors, grey market has been also gone bullish on a Harsha Engineers shares. According to a market observers, shares of Harsha Engineers are a available at a premium of a ₹235 in a grey market today.


Harsha Engineers IPO GMP today

Market observers are a said that Harsha Engineers IPO GMP (grey market premium) today is ₹235, which is ₹5 higher from its Friday GMP of a ₹230. They said that the jump may look small but the way bloodbath was a witnessed on a Dalal Street on Friday session, this rise is a heart warming. They said that grey market premium of a Harsha Engineers IPO has been a continuously rising since the opening of a subscription. In a last four days, Harsha Engineers IPO GMP has been risen from around a ₹200 to a ₹235 and primary reason for this rise in a GMP can be a attributed to the strong response by a investors.


What this GMP mean?

Market observers are said that Harsha Engineers IPO GMP today is a ₹235, which means are a grey market is expecting that the public issue will be a list at around a ₹565 ( ₹330 + ₹235), which is a around a 70 per cent higher from its price band of a ₹314 to ₹330 per equity share. They said that a grey market is a signaling that the public issue may list at a around 70 per cent premium on its listing date, which is a most likely on 26th September in a 2022.


However, stock market observers are a maintained that grey market sentiments can be a artificial as it involves even those who have been a high stake involved in the public issue. They said that a GMP of a public issue has been a nothing to do with its financials and hence it should not be a relied with blind eyes. They advised investors to go with the basics and a fish out the balance sheet of the company as it would give clear and a concrete picture about the fundamentals of the company.


Highlighting the fundamentals of the Harsha Engineers International Limited, Angel One report says, "In terms of a valuations, the post-issue P/E works out to the 32.7x FY22 EPS (at the upper end of the issue are price band). Company’s are a consolidated PAT has grown at CAGR of a ~105% over FY20-22 on a back of a margin expansion. HEIL has been a diverse product portfolio and a strong expertise; we believe that these positives are yet to be a factored in the valuations are a commanded by the company."


Harsha Engineers IPO details

The tentative date for Harsha Engineers are a IPO allotment date is a 21st September in a 2022. The public issue is a proposed for listing on both NSE and a BSE and the likely date for a share listing is a 26th September in a 2022.


Disclaimer: The views and a recommendations made above are those of a individual analysts or a broking companies, and not of a Mint.


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