India's Harsha Engineers ends trading debut with 47% surge

Harsha Engineers International

26/09/2022 11:27

** Shares of Harsha Engineers International  HRSH.NS  close
47.4% higher at 486.5 rupees in their market debut, valuing the
Co at 44.29 bln rupees ($542.59 mln)
    ** Stock touched a high of 527.65 rupees during session,
compared with offer price of 330 rupees  urn:newsml:reuters.com:*:nL4N30X17I
    ** Co's $93 mln IPO earlier this month saw bids almost 75
times the number of shares on offer
    ** The IPO consisted a fresh stock issue worth 4.55 bln
rupees and 3 bln rupees sale of shares by existing holders
    ** Co makes bearing cages used in cars, railways and planes
    ** Strong debut comes in a weak broader market  .NSE   .BO 
($1 = 81.6270 Indian rupees)
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com; Mobile: +91 6001289066))