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Harsha Engineers IPO listing date has been fixed on 26th September 2022. As per the information available on BSE website, effective from Monday, September 26, 2022, the equity shares of Harsha Engineers International Limited shall be listed and admitted to dealings on the BSE and NSE in the list of ‘B ‘ group of securities. So, Harsha Engineers shares will be a part of Special Pre-open Session (SPOS) on Monday, September 26, 2022.
Meanwhile, grey market premium is signaling strong listing of the Harsha Engineers shares. According to market observers, Harsha Engineers shares are available at a premium of ₹150 in grey market today that means Harsha Engineers IPO GMP (grey market premium) today is ₹150.
Harsha Engineers IPO GMP today
As told above by market observers, Harsha Engineers IPO GMP today is ₹150, which is ₹35 below its yesterday’s high of ₹185. Market observers said that weekend sell-off has led to dip in Harsha Engineers IPO GMP. However, they maintained that despite weakness in Dalal Street sentiments, Harsha Engineers IPO GMP has remained above ₹150 levels for the last one week that means grey market is expecting strong and fancy listing of the public issue.
What this GMP mean?
Market observers said that Harsha Engineers IPO GMP today is ₹150, which means grey market is expecting that Harsha Engineers IPO listing would be around ₹480 ( ₹330 + ₹150), which is 45 per cent higher from the price band of ₹330 per equity share. So, grey market is expecting strong listing of the public issue.
What stock market experts say
“Harsha Engineers has been able to grab the interest of investors with its strong revenue growth, profitability, and reasonable price, which resulted in an overwhelming subscription, signaling a phenomenal listing on the cards. If the market remains in a state of balance, the IPO may list above the ₹500 mark,” said Abhay Doshi, Founder of UnlistedArena.com.
Expecting strong listing of Harsha Engineers IPO, Manoj Dalmia, Founder & Director, Proficient Equities said, “Harsha Engineers International Limited is the largest manufacturer of precision bearing cages in terms of revenue in the organised sector in India. The company supplies its products to customers all over 25 countries covering five continents. It has posted improved financial performance and enjoys good long-term relations with its cream customers. The company has a virtual monopoly in its segment with the majority market share. Post listing the company may generate good listing gains. Investors can wait for the price to settle down and then start accumulating.”
So, both stock market experts and grey market is expecting strong debut of Harsha Engineers shares.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
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