Harsha Engineers shares settle over 47 pc higher in debut trade

Shares of Harsha Engineers International Ltd on Monday ended over 47 per cent higher against the issue price of Rs 330 apiece.The companys shares made their debut at Rs 444, reflecting a jump of 34.54 per cent against the issue price on the BSE.

Shares of Harsha Engineers International Ltd on Monday ended over 47 per cent higher 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. During the day, it rallied 59.87 per cent to Rs 527.60.

Harsha Engineers shares ended at Rs 485.90 apiece, a jump of 47.24 per cent.

On the NSE, the scrip opened at Rs 450, higher by 36.36 per cent. It finally ended at Rs 482.70 apiece, higher by 46.27 per cent.

In volume terms, 24.98 lakh shares of the company were traded on the BSE, while 3.61 crore shares on the NSE during the day.

The company commanded a market valuation of Rs 4,423.83 crore on the BSE.

In the broader market, the 30-share BSE Sensex tanked 953.70 points or 1.64 per cent to settle at 57,145.22.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)