Shares of Harsha Engineers International Ltd on Monday listed with a premium of more than 36 per cent against the issue price of Rs 330 apiece.
The company’s shares made their debut at Rs 444, reflecting a jump of 34.54 per cent against the issue price on the BSE. It later rallied 46.87 per cent to Rs 484.70.
On the NSE, the scrip opened at Rs 450, higher by 36.36 per cent.
The Initial Public Offer (IPO) of Harsha Engineers International got subscribed 74.70 times earlier this month. The offer worth up to Rs 755 crore had a price range at Rs 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, at Changshu in China and at Ghimbav Brasov in Romania.
