Harsha Engineers IPO: The IPO subscription status of Harsha Engineers shows that the issue has received strong response from investors. The public issue was subscribed 74.70 times, while its retail portion was subscribed 17.63 times, despite the weakness in the stock market. In the NII category, the IPO was subscribed 71.32 times while the QIB segment was subscribed 178.26 times. Meanwhile, the gray market (GMP) on the shares of Harsha Engineers has also risen after a strong response from the investors. According to market experts, the shares of Harsha Engineers are available today at a premium of ₹ 235 in the gray market.
Harsha Engineers IPO GMP
Market experts said that the GMP (Grey Market Premium) of Harsha Engineers IPO today stands at ₹235, which is ₹5 more than its Friday GMP of ₹230. He said that the gray market of Harsha Engineers IPO has been growing steadily since the opening of premium subscription. Harsha Engineers IPO GMP has increased from around ₹200 to ₹235 in the last four days.
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What does GMP mean?
Market expert said Harsha Engineers IPO GMP today is ₹ 235. This means that the gray market is expecting the issue to be listed at around ₹565 (₹330 + ₹235), which is almost 70 per cent higher than its price band of ₹314 to ₹330 per equity share. He said the gray market is indicating that the issue may get listed at a premium of around 70 per cent on its listing date. Let us know that its listing date is 26 September 2022.
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Harsha Engineers IPO Details
The tentative date for allotment of Harsha Engineers IPO is 21st September 2022. The public issue is proposed to be listed on both NSE and BSE and the tentative date of share listing is 26 September 2022.