Harsha Engineers' shares debut with 36% premium

Shares of Harsha Engineers International Ltd on Monday (September 26) were listed with a premium of more than 36 per cent against the issue price of ₹330 a piece.

The company’s shares made their debut at ₹444, reflecting a jump of 34.54 per cent against the issue price on the BSE. It later rallied 46.87 per cent to ₹484.70. On the NSE, the scrip opened at ₹450, higher by 36.36 per cent.

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The Initial Public Offer (IPO) of Harsha Engineers International got subscribed 74.70 times earlier this month. The offer worth up to ₹755 crore had a price range at ₹314-330 a share.

The company is a leading manufacturer of precision bearing cages. It has five manufacturing facilities, including at Changodar and Moraiya in Gujarat, Changshu in China and at Ghimbav Brasov in Romania.

(With inputs from agencies)