December 19, 2023
New Delhi, India
IPO News
Happy Forgings Limited’s Initial Public Offering (IPO) opened with a bang, garnering significant attention from investors. Here’s a breakdown of the key details.
Subscription Status and Grey Market Premium (GMP):
By 2:12 PM on the first day of bidding, the IPO witnessed a subscription rate of 1.33 times. The retail portion oversubscribed at 1.90 times, while the NII segment subscribed 1.70 times. Happy Forgings shares are currently trading at a premium of ₹452 in the grey market, indicating positive market sentiment.
IPO Price Band and Fundraising:
Happy Forgings has set the IPO price band at ₹808 to ₹850 per equity share. The company aims to raise ₹1,008.59 crore through the IPO, with ₹400 crore earmarked for fresh shares and ₹608.59 crore through the offer for sale (OFS).
Lot Size and Allotment:
Investors can apply in lots, each comprising 17 company shares. The likely date for share allocation is 22nd December 2023, adhering to the T+3 listing rule.
ALso Read: Credo Brands Marketing Secures ₹165 Crores from Anchor Investors Ahead of IPO
Registrar, Listing, and Dates:
Link Intime India Private Limited serves as the official registrar for the IPO. Happy Forgings is set to be listed on both BSE and NSE, with the anticipated listing date on 27th December 2023. The IPO subscription window is open until 21st December 2023 (Thursday).
Considerations for Investors:
Investors should carefully weigh their risk tolerance, financial goals, and market conditions before deciding to apply for the Happy Forgings IPO. It’s advisable to stay informed with the latest developments and, when in doubt, seek advice from a financial advisor.
Conclusion:
Happy Forgings Limited’s IPO has generated substantial interest, with a strong subscription rate and positive GMP. As the subscription period continues, investors keen on participating in the IPO should conduct thorough due diligence to make informed investment decisions.
Also Read: Government Reverses Ban, Sparks Surge in Sugar Stocks on Ethanol Production Boost
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
