Shares of Harsha Engineers International Ltd jumped as much as 47 per cent in their market debut on Monday, after the precision products maker's $93 million IPO drew strong investor interest.

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The company, which makes and sells bearing cages used in cars, railways and planes among others, saw its shares rise to as much as ₹484.9, compared with the issue price of ₹330, in a weak broader market.

Earlier this month, the Gujarat-based company's issue saw bids almost 75 times the number of shares on offer, according to exchange data.