Happy Forgings IPO is now available for investors starting today, and they can participate until December 21.
Many people are showing interest in this IPO, with a 62% subscription rate in just the first 2 hours.
Positive news is also coming from the gray market, where the GMP is more than Rs 400.
Wondering about the price range? Each share, with a face value of Rs 2, is priced between Rs 808 and Rs 850.
One lot includes 17 shares, requiring a minimum investment of Rs 14,450.
If you’re a retail investor, you can place bets on up to 13 lots. The shares will be allocated to investors on December 22, 2023.
Let’s talk about the company’s performance in the gray market (Happy Forgings IPO GMP). Currently, the Happy Forgings IPO is trading at a premium of Rs 430.
If these trends continue, the company’s listing on the stock markets could be around Rs 1300, potentially providing investors with more than a 50% profit on the first day.
The listing is scheduled for December 27, 2023, on both BSE and NSE.
Earlier, Happy Forgings IPO had successfully raised Rs 302.58 crore through anchor investors, who participated from December 18.
The shares allotted to anchor investors have a lock-in period until February 5, 2024, for 50% of them, and the remaining shares will be locked until April 29, 2024.
