Happy Steels IPO: The initial public offering (IPO) automotive component manufacturer Happy Steels Ltd opens for public subscription today, July 9, Thursday, and will close on July 13, Monday.
price band is set at ₹62 to ₹66 per share, and the IPO lot size is 2,000 shares. The minimum investment amount required by a retail individual investor is ₹2,64,000. The company aims to raise ₹25 crore from the book-building issue, which is entirely a fresh issue of 37.88 equity shares.
The company proposes to utilise the net issue proceeds for capital expenditure towards purchase of additional plant and machinery for the existing manufacturing unit, repayment or prepayment of term loans to banks, and for general corporate purposes.
The allotment date is likely July 14, and the IPO listing date is July 16. Happy Steels shares will be listed on the NSE Emerge, a platform for SME companies.
Share India Capital Services Pvt. Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the Happy Steels IPO registrar.
Happy Steels IPO Subscription Status
Happy Steels IPO is yet to open today. The subscription of the SME IPO will open at 10:00 IST.
Happy Steels IPO GMP Today
Happy Steels shares are showing a muted trend in the unlisted market, with no grey market premium (GMP). According to experts, Happy Steels IPO GMP today is ₹0 per share. This indicates that in the grey market, Happy Steels shares are trading without any discount or premium to the issue price.
Considering the Happy Steels IPO GMP today, the estimated listing price of the stock would be ₹66 apiece, which is equal to the issue price of ₹66 per share.