Harsha Engineers IPO Day 1: Harsha Engineers has fixed the IPO price band at Rs 314-330 per share for the Rs 755 crore initial share offer. The precision bearing cage manufacturer's 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.
Harsha Engineers' 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.
This is Harsha Engineers' second attempt to go public. It had filed its draft papers with the regulator in August 2018 but later shelved the proposal due to the IL&FS crisis, which shook the NBFC (non-banking financial company) sector.