Grey market premium of HRH Next Services Ltd currently stands in the range of Rs 0-Rs 8, expecting up to 22.23 per cent listing gain from the public issue
HRH Next Services IPO: The initial public offering of HRH Next Services Ltd, which is going to be closed today, December 29, has received a decent response from investors. Till 10:57 am on the final day of bidding on Friday, the Rs 9.57-crore IPO received 14.61 times subscription, garnering bids for 3,68,52,000 shares as against 25,23,000 shares on offer.
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The SME IPO was opened for public subscription on December 27. The IPO was fully subscribed within hours of its opening.
The category meant for non-institutional investors received 5.98 times subscription, while the quota for retail individual investors (RIIs) got subscribed 23.25 times.
The price of the IPO has been fixed at Rs 36 per share. The IPO allotment will take place on January 1, while its listing will take place on January 3 on the SME NSE.
HRH Next Services IPO GMP Today
According to market observers, the grey market premium or GMP of HRH Next Services Ltd currently stands in the range of Rs 0-Rs 8. It means the grey market is expecting up to 22.23 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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HRH Next Services IPO Details
The issue is entirely a fresh issue of 26.58 lakh shares. HRH Next Services IPO price is Rs 36 per share. For investors, the minimum lot size is 3,000 shares. The minimum amount of investment required by retail investors is Rs 1,08,000.
Finshore Management Services Limited is the book-running lead manager of the HRH Next Services IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for HRH Next Services IPO is Nikunj Stock Brokers.
HRH Next Services Limited, which was incorporated in February 2007, is a business process outsourcing service provider offering services such as chat support, backend support, voice support and email support.
Its profit after tax during the financial year 2022-23 stood at Rs 3.47 crore, while its revenue was at Rs 51.24 crore.
