The offer consists of a fresh issue of shares aggregating to Rs 455 crore and an offer for sale of up to Rs 300 crore by existing shareholders.
In the IPO, 50% of the shares will be reserved for qualified institutional buyers. Non-institutional bidders and retail individual bidders will be allotted 15% and 35%, respectively.
Proceeds from the fresh issue of up to Rs 270 crore will be utilised for debt repayment, the company said.
Harsha Engineers reported revenue from operations of Rs 1,321.48 crore in 2021-22, a jump of 51.24% over FY21. The company’s profit after tax has increased by 102.35% to Rs 91.94 crore for fiscal 2022 from Rs 45.44 crore in the previous year.
Axis Capital, Equirus Capital, and
are the book-running lead manager to the issue.