Happy Forgings Shares Start Trading Much Higher Than Their Issue Price

It had conducted an IPO last week to raise funds by selling shares to the public for the first time.

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Happy Forgings Shares Start Trading Much Higher Than Their Issue Price

It had conducted an IPO last week to raise funds by selling shares to the public for the first time.

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The company offered its shares in the price range of Rs. 808 to Rs. 850 apiece.

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The shares started trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today under the symbol ‘HAPFORGE’.

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The strong listing is a contrast to expectations in the grey market prior to trading.

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This indicated the expected gain for investors would be around 28-30% upon listing.

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However, the premium rose as high as Rs. 450 in the grey market in the days right before bidding closed.

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