Cheers To RBZ Jewelers And The Three IPOs That Closed On December 21!
IPOs, or initial public offerings, have gained a lot of traction among stock market participants. Upon the closing of an IPO, the company no longer accepts bids from investors. The allocation process begins, the shares are deposited to the investors’ demat accounts, and any excess payments are reimbursed. The company then allows the public to trade its shares. On December 21, three initial public offerings closed. The GMPs of the three IPOs were all strong. If an investor gets assigned to any of these IPOs, there’s a good chance they will profit on the day of listing. Three initial public offerings (IPOs) concluded yesterday: Happy Forgings, Credo Brands (Mufti), and RBZ Jewellers. Let us go into more depth about them for you.
On Friday, December 22, Happy Forgings is anticipated to issue a statement on the terms of distributing its stock. Bidders will receive emails, alerts, or notices over the weekend, or by Tuesday at the latest, about the debiting of their monies or the revocation of their IPO mandate. Between December 19 and December 21, Happy Forgings conducted an initial public offering (IPO) with a lot size of 17 shares and a price range of Rs 808-850 per share. The business aimed to raise about Rs 1,008.59 crore via its main offering, which included a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 47,05,882 equity shares. On December 21, its GMP stood at Rs 435.
Subscriptions for the IPO of Credo Brands (MUFTI) were accepted from December 19 to December 21. Thirteen people have subscribed to the IPO. The initial public offering (IPO) of the book building has a price range of Rs 266 to 280 per share. Shares of Credo Brands Marketing Ltd (MUFTI) have a nominal value of two rupees each. On December 21, it is trading at Rs 145 for its GMP.
Additionally open from December 19 to December 21 was RBZ Jewelers. It costs between Rs 95 and Rs 100. Nineteen retail investors have made subscriptions. It now has a GMP of Rs 5. There will be a about 5% profit if the high end of this pricing range is advertised with this GMP.
