Happy Square Outsourcing Services IPO in focus today: The IPO of Happy Square Outsourcing Services, which opened for bidding on Thursday, July 03, saw healthy investor interest, with the issue being subscribed 0.24 times as of 12:30 p.m., according to exchange data.
The retail investor segment was subscribed 0.14 times, while the non-institutional investor (NII) category also saw a 0.86 times subscription. The Qualified Institutional Buyer (QIB) portion has not yet opened for bidding.
The company proposes to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
Happy Square Outsourcing Services issue details
1. Happy Square Outsourcing Services IPO date: The issue opened for subscription on Thursday, July 03, and will conclude on Monday, July 07.
2. Happy Square Outsourcing Services IPO Price: The price band of the IPO has been fixed between ₹72 and ₹76 per equity share.
3. Happy Square Outsourcing Services IPO Size: The company aims to raise ₹24.25 crore through the IPO, which is a fresh issue of 31.90 lakh shares.
4. Happy Square Outsourcing Services IPO Lot Size: The IPO lot size is fixed at 3,200 shares, requiring a minimum investment of ₹243,200 for retail investors.
5. Happy Square Outsourcing Services IPO reservation: The IPO offers 14.48 lakh shares to QIB, 4.36 lakh shares were reserved for non-institutional buyers, and 10.17 lakh shares to retail investors.
6. Happy Square Outsourcing Services IPO allotment date: The IPO allotment date is set for Tuesday, July 08. Investors who receive an allotment will see the shares in their demat accounts by Thursday, July 09, while those who do not will have their refunds processed on the same day.
7. Happy Square Outsourcing Services IPO listing: The SME IPO is proposed to list on the BSE SME on Tuesday, July 10.
8. Happy Square Outsourcing Services IPO GMP: According to market sources, the GMP of the Happy Square Outsourcing IPO on Thursday was 06, indicating that the stock is likely to list at 82 apiece, 8% higher than the upper band issue price of ₹91.
9. Happy Square Outsourcing Services IPO book-running lead manager and registrar: Corpwis Advisors Private Limited is the book-running lead manager of the White Force IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Happy Square Outsourcing IPO is Giriraj Stock Broking Private Limited.
10. Happy Square Outsourcing Services overview: Headquartered in Jabalpur, Happy Square is a technology-based consulting firm involved in the tech-based human resource outsourcing business, which focuses on end-to-end solutions. It offers a wide array of services such as recruitment, payroll, onboarding, and flexible staffing, as per company’s RHP report.
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