Heavy forgings manufacturer Happy Forgings Limited made a great debut in the stock market on Wednesday after its recent IPO. After being subscribed multiple times in all categories, today its shares were listed with a bumper premium of 00 percent, due to which the investors who invested in the IPO became rich on the very first day.
Strong demand in the gray market. There were signs of listing. Today, before the start of the session on Wednesday, the share of Happy Forgings was trading at a handsome premium of Rs 235 i.e. GMP in the gray market. It was being estimated that the listing of its shares could be between Rs 1,050 and Rs 1,100. The company’s shares were listed on BSE at Rs 00 with a premium of Rs 00 i.e. 00%.
The size of the IPO was so big
The IPO of Happy Forgings Limited was opened on 19 December. And it remained open for bidding till December 21. The total size of this IPO was more than Rs 1000 crore. The IPO included fresh issue of shares worth Rs 400 crore and offer for sale of shares worth Rs 608.59 crore. In this way, the total size of Happy Forgings’ IPO was Rs 1,008.59 crore.
The IPO was filled on the first day itself.
This IPO had received an excellent response from all categories of investors. This IPO was completely filled on the first day itself. The IPO was subscribed 215 times in the category of most qualified institutional buyers. Whereas the IPO was subscribed 63.45 times in NII category and 15.40 times in retail category. In this way, the IPO received an overall subscription of 82.63 times.
This much was required for one lot
The company had fixed the price band of the IPO at Rs 808 to Rs 850. One lot contained 17 shares. This means that any investor needed at least Rs 14,450 to bid in the IPO of Happy Forgings.
This much profit for investors on every lot
After listing. The value of one lot of shares of the company has become Rs 00. In this way, the investors whose bids were successful in the IPO of Happy Forgings Limited, earned Rs 00 on each lot today.
Flat listing of these two shares
There was flat listing of shares of Credo Brands and RBZ Jewellers. Shares of Mufti jeans maker Credo Brands were listed at Rs 282 against the upper price band of Rs 280. Shares of RBZ Jewelers were listed at Rs 100. The upper price band of its IPO was also only Rs 100.
