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Harsha Engineers IPO: What GMP Signal After Strong Subscription?

Harsha Engineers IPO: After three days of registration for the public release of value 755 crore, Harsha Engineers IPO registration status reflects that the issue has received a strong response from investors. Despite the stock market sentiment weakness, its public issue number was registered 74.70 times while its retail segment was registered 17.63 times. The Initial Public Offering (IPO) has been registered 71.32 times in the NII portfolio while the QIB portion has been registered 178.26 times. Meanwhile, after a strong reaction from investors, the gray market also rallied for shares of Harsha Engineers. According to market observers, shares of Harsha Engineers are currently priced high 235 on the gray market today.

Engineer Harsha IPO GMP today

Market observers say that today’s Harsha Engineers IPO GMP (gray market premium) is 235, that’s 5 times higher than Friday’s GMP 230. They say the jump may look small but the way one witnessed the bloodbath on Dalal Street on Friday, the increase warms the heart. They say that the gray market premium of the Harsha Engineers IPO has steadily increased since registration opened. In the past four days, Harsha engineer IPO GMP has grown from about 200 to 235 and the main reason for this increase in GMP could be the strong reaction of investors.

What does this GMP mean?

Market observers said, today Harsha Engineers IPO GMP is 235, which means the gray market is expecting that the public issue will be listed around 565 ( 330 + 235), about 70% higher than the price range 314 to 330 per equity share. They say the gray market is signaling that the public issue could list at a premium of around 70% on listing date, most likely September 26, 2022.

However, stock market observers suggest that gray market sentiment may be artificial as it involves both high stakes people participating in the matter publicly. They say that the GMP for a public matter has nothing to do with its finances and therefore should not be relied on blindly. They advise investors to learn the basics and figure out a company’s balance sheet as it will give a clear and concrete picture of the company’s fundamentals.

Highlighting Harsha Engineers International Limited’s fundamentals, Angel One’s report said, “In terms of valuation, post-issue P/E is 32.7x FY22 EPS (at the top of FY22). issue price margin). The company’s consolidated NPAT grew at a CAGR of ~105% in FY20-22 thanks to margin expansion. solid expertise; we believe these positives have not yet been incorporated into the company’s valuation.”

Harsha Engineers IPO Details

The tentative date for the Harsha Engineers IPO is September 21, 2022. The proposed public release for listing on both the NSE and the BSE and the likely date of the stock listing is September 26, 2022.

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

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