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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of borrowings
Prepayment or repayment of a portion of the company's outstanding debt.
Capital expenditure on machinery
Funding the purchase of machinery to support the engineering business.
Facility repairs and renovation
Repairs and renovation of existing production and office infrastructure.
General corporate purposes
Balance proceeds to be used for general corporate purposes.
No lots distribution added yet.
(₹ in Crore)
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Harsha Engineers International Limited operates two principal business lines: precision engineering and solar EPC. In its engineering segment, the company manufactures precision bearing cages made from brass, steel and polyamide, along with precision stamped components, welded assemblies and bronze bushings that are supplied mainly to bearing manufacturers worldwide. Its solar EPC arm undertakes turnkey execution of solar photovoltaic projects along with related operations and maintenance services. The company operates five manufacturing facilities dedicated to its engineering business, comprising two units at Changodar and one at Moraiya near Ahmedabad in Gujarat, together with overseas plants in Changshu, China and Ghimbav Brasov, Romania. It maintains three wholly owned subsidiaries, based in China, the United States and the Netherlands, and a step down subsidiary in Romania, supporting a customer base spread across more than 25 countries. It counts several of the world's leading bearing manufacturers among its long standing clients, with relationships with its top five customers averaging more than a decade. Harsha Engineers describes itself as the largest organised sector manufacturer of precision bearing cages in India by revenue, and among the largest globally, holding a meaningful share of both the domestic and global organised bearing cage markets. Its scale, decades of tooling and design expertise, and diversified geographic manufacturing footprint position it to benefit from the continuing shift of bearing cage production from in house manufacturing to specialised outsourced suppliers such as itself.
The company raised approximately Rs 225.75 crore from anchor investors ahead of the issue opening, at the upper end of the price band of Rs 330 per share. Marquee anchor participants reportedly included American Funds Insurance Series, Goldman Sachs, PineBridge Global Funds and the Abu Dhabi Investment Authority, among others.
Source: RHP • Analysis provided for informational purposes
Last Updated: 19 July 2026, 5:30 AM
Market leadership in bearing cages
The company is the largest organised sector manufacturer of precision bearing cages in India by revenue and holds a meaningful share of the global market, benefiting from an industry wide shift toward outsourced production.
Long standing customer relationships
It has served several leading global bearing manufacturers for many years, with average relationships with its top five customers exceeding a decade, supporting revenue visibility.
Diversified, strategically located manufacturing base
Its facilities are located near coastal regions for efficient logistics and are supported by a global network of warehouses, aiding timely delivery to customers across geographies.
Deep engineering and tooling expertise
Decades of experience in tooling, design development and automation support consistent product quality and process efficiency.
Consistent financial track record
The company has shown a steady trend of revenue and profit growth over recent years.
Customer concentration
A significant share of revenue depends on a limited set of customers, so the loss of any major client could materially affect results.
Currency exposure
A meaningful portion of revenue comes from exports, exposing the company to foreign exchange rate fluctuations.
Dependence on third party suppliers
The company relies on external vendors for raw materials and product delivery, creating supply chain risk.
MUFG Intime India Private Limited
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Recent corporate reorganisation
A recent internal corporate restructuring could pose near term operational and administrative integration challenges.