HRH Next Services IPO: Check subscription status on day 3, GMP and other details
₹9.57 crore. The issue opened for subscription on December 27, 2023 and closed on December 29, 2023. The issue witnessed a good response from investors and was subscribed 66.29 times on the final day of bidding on December 29.
It had received bids for 16,72,50,000 shares as against 25,23,000 on offer. The retail portion of the SME IPO was subscribed 63.61 times, followed by Non Institutional Investors (NII) quota was subscribed 66.91. The issue was subscribed 2.98 times on the opening day, with retail portion being booked 4.28.
On the second day, the IPO was subscribed 10.86 times, retail quota booked 17.33. The grey market premium (GMP) of the public offer rose to ₹8 per share on December 29 from ₹0 per share yesterday. According to data available on Chittorgarh, the listing price of the issue is expected to be ₹44 per share, which is 22.22% higher than the issue price.
However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. It is a fixed price issue of ₹9.57 crores and is entirely a fresh issue of 26.58 lakh shares. The company has set the price band for its issue at ₹36 per share.
The minimum lot size for an application is 3000 shares and the minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹216,000. The allotment for the HRH Next Services IPO is expected to be finalized on Monday, January 1, 2024.The shares of HRH Next Services IPO will list on NSE SME with tentative listing date fixed as Wednesday, January 3, 2024.
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