Happy Forgings IPO, which opened for subscription on December 19, 2023, has garnered a subscription of 0.44 times as of 11:27 AM on Day 1. The subscription details across different categories are as follows:
**Category-wise Subscription (as of 11:27 AM, Day 1):**
– **QIB (Qualified Institutional Buyers):** Subscribed 0.00 times
– Shares Offered: 23,73,160
– Shares Bid For: 476
– **NII (Non-Institutional Investors):** Subscribed 0.38 times
– Shares Offered: 17,79,870
– Shares Bid For: 6,79,609
– bNII (bids above ₹10L): 0.22 times
– Shares Offered: 11,86,580
– Shares Bid For: 2,62,939
– sNII (bids below ₹10L): 0.70 times
– Shares Offered: 5,93,291
– Shares Bid For: 4,16,670
– **Retail:** Subscribed 0.71 times
– Shares Offered: 41,53,031
– Shares Bid For: 29,59,326
**Overall Subscription Details (as of 11:27 AM, Day 1):**
– **Total Subscription:** 0.44 times
– **Total Shares Offered:** 83,06,061
– **Total Shares Bid For:** 36,39,411
**Total Applications Received:** 141,229
The retail category has seen a subscription of 0.71 times, showcasing investor interest in this segment. However, the QIB category has yet to witness subscriptions, and the NII category has seen a mixed response with different levels of subscription for bids above and below ₹10 lakh.
Investors are closely monitoring the subscription status, and the final subscription figures at the close of the IPO will provide insights into the overall demand for Happy Forgings shares. The IPO comprises a fresh issue of ₹400 crore and an offer for sale (OFS) of 71.59 lakh equity shares. The price band for the IPO is set at ₹808 to ₹850 per share, and the offer concludes on Thursday, December 21, 2023.
