Happy Forgings IPO Day 3: Issue subscribed by over 9 times so far; check GMP, subscription status, other key details
₹1,008.59 crore from the initial public offering (IPO). Also Read: Happy Forgings IPO Day 1: Issue subscribed 2.31 times; retail portion booked 3x Let us check Happy Forgings IPO GMP today, subscription status and other key details: Happy Forgings IPO was subscribed 9.11 times on December 21, the third and the last day of the bidding process. The public issue received bids for 7.61crore equity shares as against 83.65 lakh shares on the offer, as per data available on NSE till 10:35 am.
The IPO has been subscribed 8.61 times in the retail category and 21.22 times in the Non-Institutional Investors’ (NII) category so far. The Qualified Institutional Buyers' (QIBs) portion was booked 49%. Happy Forgings IPO GMP today, or grey market premium today, is ₹435 per share, as per market oBSErvers.
This indicates that Happy Forgings shares are trading higher by ₹435 apiece than their IPO price of ₹850, in the grey market. Considering the IPO price and the GMP today, Happy Forgings share listing is estimated to be at a premium of 51.18% to the issue price at ₹1,285 per share. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Happy Forgings IPO commenced on December 19 and the bidding 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 is ₹808 to ₹850 per share. The IPO lot size is 17 shares and the minimum investment amount required by retail investors is ₹14,450.
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