Harsha Engineers IPO: GMP steady despite market volatility, how to check allotment

Harsha Engineers IPO: After closure of three days subscription, all eyes are now set on the Harsha Engineers IPO allotment date, which is most likely on 21st September 2022. However, after strong response from investors, grey market is still giving strong signals in regard to the public offer worth ₹755 crore. According to market observers, shares of Harsha Engineers International Ltd is available at a premium of ₹215 in grey market today.

Harsha Engineers IPO GMP today

Market observers said that Harsha Engineers IPO GMP (grey market premium) today is ₹215, which is ₹20 down from its Friday evening close price. They said that despite bloodbath on Dalal Street last Friday, grey market has remained positive about the Harsha Engineers IPO. It is still holding its ground and the stock has remained available above ₹200 premium for neat one week that means grey market is expecting strong listing of Harsha Engineers shares.

What this Harsha Engineers IPO means?

Market observers went on to add that Harsha Engineers IPO GMP today is ₹215 that means grey market is expecting that shares of the company may list around ₹545 ( ₹330 + ₹215), which is around 65 per cent higher from its price band of ₹314 to ₹330 per equity share. This means, grey market is expecting listing premium from Harsha Engineers IPO to the tune of 65 per cent today.

However, stock market experts said that GMP is not an ideal indicator about the possible listing premium from an IPO. They said that GMP figures might be an artificial one as it involves even those who have high stake involved with the public offer. They said that it keeps on changing on daily basis and hence one should stick to the basics and rely on the fundamentals of the company that is available in the balance sheet of the company. Market experts advised allottees to go through the balance sheet of the company instead of following the grey market sentiments.

Harsha Engineers IPO: How to check allotment status

Those who have applied for the public issue are advised to check their application status online after the announcement of share allotment. They can check Harsha Engineers IPO allotment status online by logging in at the BSE website — bseindia.com or at the website of official registrar of the IPO — Link Intime India Private Ltd. For convenience, they can login at direct BSE link — bseindia.com/investors/appli_check.aspx or at direct Link Intime web link — linkintime.co.in/MIPO/Ipoallotment.html.

Harsha Engineers IPO listing date is likely to take place on 26th September 2022.