Happy Forgings IPO Day 2: Issue booked over 4 times so far; check subscription status, GMP, other key details
₹1,008.59 crore from the IPO that will end on December 21. Let us check Happy Forgings IPO subscription status, GMP today and other key details: Happy Forgings IPO was subscribed 4.63 times on December 20, the second day of the bidding process. The public issue received bids for 3.87 crore equity shares as against 83.65 lakh shares on the offer, as per data available on NSE till 1:00 pm.
The IPO has been subscribed 5.39 times in the retail category and 8.70 times in the Non-Institutional Investors’ (NII) category so far. The Qualified Institutional Buyers' (QIBs) portion was booked 4%. Also Read: Happy Forgings IPO: Here are 10 key risk factors from RHP investors should know Happy Forgings IPO GMP today, or grey market premium today, rose to ₹444 per share, as per market observers.
This indicates that Happy Forgings shares are trading higher by ₹444 or at a premium of 52.24% to its issue price in the grey market at ₹1,294 apiece. Happy Forgings IPO commences on December 19 and will conclude on December 21. The IPO size is ₹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.
Happy Forgings IPO price band has been set at ₹808 to ₹850 per share. The IPO lot size is 17 shares and the minimum investment amount required by retail investors is ₹14,450. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The company has raised ₹303 crore ahead of the IPO by allocating 35,59,740 equity shares at ₹850 apiece to 25 anchor investors, as per stock exchange filing.
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