Harsha Engineers International has entered Share Subscription agreement with Harsha Engineers Advantek, Wholly Owned Subsidiary of the Company (WOS) on May 25, 2023 wherein the Company has agreed to invest in the WOS up to an aggregate amount of Rs 350 crore by way of subscription of Optionally Convertible Non-Cumulative Redeemable Preference Shares (OCRPS) of WOS in one or more tranches. The funds so invested shall be utilized by WOS to strengthen its long-term capital base and also towards working capital expenditure.
Harsha Engineers International 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. It offers diversified suite of precision engineering products across geographies and end-user industries.
