Happy Forgings IPO to Commence Trading with Positive Expectations

Happy Forgings IPO to Commence Trading with Positive Expectations

VoM News Desk | December 27, 2023 | 11:58 AM IST | Breaking News | Follow on Google News

Happy Forgings IPO to Commence Trading with Positive Expectations/Image Company’ website

Happy Forgings IPO to Commence Trading with Positive Expectations

Today, on December 27, 2023, Happy Forgings Limited’s IPO is set to make its debut on the BSE and NES platforms in a special pre-open session, marking a significant event in the Indian stock market.

The BSE notice informs that Happy Forgings Limited’s equity shares shall be listed in the ‘B’ Group of Securities, beginning today’s trading session. The IPO has garnered considerable attention from investors, and market sentiments are optimistic, favoring a positive listing of Happy Forgings shares. Analysts foresee a potential premium of 25% to 30% for the IPO.

Grey market trends also suggest a positive listing, with Happy Forgings IPO shares currently quoting at a premium of ₹285. This indicates that the IPO listing price might hover around ₹1,135, signifying a potential 30% premium for allottees.

Market observers and experts alike expect a strong debut, considering the overwhelming 82x oversubscription of the IPO. Parth Shah, a Research Analyst at StoxBox, emphasized that the company’s consistent performance, evident in revenue and EBITDA growth over the past three years, might contribute to a robust listing. He anticipates a strong premium over the issue price of ₹850 per share.

Similarly, Arun Kejriwal, Founder at Kejriwal Research and Investment Services, tempered expectations slightly, projecting a listing between ₹1,030 to ₹1,055, around 25% premium over the IPO price.

In summary, both market observers and experts forecast that Happy Forgings IPO will likely debut with a notable premium ranging between 25% to 30%, contributing to a promising opening in today’s trading session.

VoM News Desk

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