Happy Forgings IPO: What does GMP, subscription status signal ahead of listing
The Happy Forgings IPO garnered a robust response from all section of investors during the bidding period from December 19 to 21. The IPO was oversubscribed by impressive 82 times. The segment allocated for retail investors saw a subscription rate of 15.40 times, while the portion reserved for Non-Institutional Investors (NIIs) was subscribed by 63.45 times. The Qualified Institutional Buyers’ (QIB) segment witnessed robust demand, with a subscription rate of 214.65 times.
The IPO size was ₹1,008.59 crore, which comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares. The IPO was priced within the band of ₹808–850 per share.
Also Read: Happy Forgings IPO allotment out. GMP, how to check allotment status online
Happy Forgings, a manufacturer of heavy forgings and high-precision machined components, is set to make its stock market debut on Wednesday (December 27). Ahead of its listing, the grey market is indicating a strong start as stock is trading with a premium of ₹400 per share in the unlisted market, which signals that the grey market is expecting that Happy Forgings IPO listing price will be around ₹1,275 apiece, a premium of 47%.
Also Read: Credo Brands IPO allotment declared. Latest GMP, how to check status
On Saturday, December 23, Happy Forgings announced the allotment details. Investors who have applied for the public issue can check Happy Forgings IPO allotment status online by logging in at the BSE website or at the website of the official registrar of the book build issue, Link Intime Private Limited. The company’s shares are set to be listed on both the BSE and NSE.
Happy Forgings IPO has reserved not more than 50% of the shares in the public issue for QIB, not less than 15% for NIIs, and not less than 35% of the offer is reserved for retail investors.
Also Read: IPOs this week: 6 new public issues to hit Dalal Street, 10 stocks to debut
Apart from the Happy Forgings listing, this week will see the market debut of nine other stocks, namely Sahara Maritime, Suraj Estate Developers, Motisons Jewellers, Muthoot Microfin, Electro Force (India), Credo Brands Marketing, RBZ Jewellers, Shanti Spintex, and Azad Engineering.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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Published: 25 Dec 2023, 01:06 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.