JSA advised Axis Capital Limited, Equirus Capital Private Limited and JM Financial Limited in relation to the initial public offering of equity shares of Harsha Engineers International Limited (“HEIL”) (“IPO”) comprising of a fresh issue of INR 4,550.00 million and an offer for sale of INR 3,000.00 million, at a price of Rs. 330 per equity share, aggregating to a total IPO size of INR 7,550.00 million. As per news reports, the IPO was oversubscribed by 74.70 times with the QIB portion being oversubscribed by 178.26 times.
HEIL is the largest manufacturer of precision bearing cages, in terms of revenue, in organised sector in India, and amongst the leading manufacturers of precision bearing cages in the world. (Source: CARE Advisory Report).
Deal Value: INR 7,550.00 million
JSA Transaction Team comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Senior Associate – Krupa Brahmbhatt, and Associates – Sourav Modi and Akash Joshi.
Akash practices primarily in the area of capital markets and securities. He has advised clients on best possible drafting strategies for offer documents meant for initial public offers and qualified institutions placement.