Happy Forgings IPO to list tomorrow: Here’s what GMP, subscription status signal ahead of listing
Happy Forgings IPO Listing: The initial public offering (IPO) of Happy Forgings Ltd, the manufacturer of heavy forgings and high-precision machined components, received strong demand from investors across the board. As the IPO allotment has been finalised, the focus now shifts on Happy Forgings IPO listing which is scheduled on December 27.
The bidding for Happy Forgings IPO began on December 19 and ended on December 21. The issue got subscribed 82.63 times in total at the close of the subscription period. Happy Forgings IPO allotment was finalized on December 22 and the shares are set to list on both the stock exchanges, BSE and NSE.
Also Read: Happy Forgings IPO: What does GMP, subscription status signal ahead of listing
Let us check what Happy Forgings IPO GMP signals ahead of the share listing tomorrow.
Happy Forgings IPO GMP Today
Happy Forgings IPO GMP today is ₹282 per share. This means that Happy Forgings shares are trading higher by ₹282, or at a premium of ₹282 to the issue price, in the grey market today, as per market observers.
The grey market premium today indicates a strong listing for Happy Forgings shares. Considering the Happy Forgings IPO GMP today and the issue price, Happy Forgings shares estimated listing price is ₹1,132 apiece, which is a premium of 33.18% to the IPO price of ₹850 per share.
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Happy Forgings IPO Subscription Status
Happy Forgings IPO garnered a robust response from all categories of investors during the bidding period from December 19 to 21. The IPO was subscribed by an impressive 82.63 times.
The retail investors’ portion was subscribed 15.40 times, while the portion reserved for Non-Institutional Investors (NIIs) was subscribed by 63.45 times. The Qualified Institutional Buyers’ (QIB) segment was booked 214.65 times.
Also Read: Happy Forgings IPO allotment out. GMP, how to check allotment status online
Happy Forgings IPO Details
Happy Forgings IPO size was ₹1,008.59 crore, which comprised a fresh issue of 47 lakh shares aggregating to ₹400 crore and an offer for sale (OFS) of 72 lakh shares aggregating to ₹608.59 crore. The IPO price band was ₹808 to ₹850 per share.
JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers of the Happy Forgings IPO, while Link Intime India Private Ltd is the IPO registrar.
The company proposes to utilise the issue proceeds towards purchase of equipment, plant and machinery, prepayment of certain outstanding borrowings and general corporate purposes.
Read all IPO-related news here
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Published: 26 Dec 2023, 12:09 PM IST
