HRH Next Services IPO Fully Subscribed Within Hours: Check GMP, Price, Subscription Status, Lot Size

HRH Next Services IPO: The initial public offering of HRH Next Services Ltd has opened for public subscription on Wednesday, December 27. The SME IPO, which will remain open till Friday, December 29, has been fully subscribed within hours of its opening. Till 12:25 pm on the first day of bidding on Wednesday, the Rs 9.57-crore IPO received 1.56 times subscription, garnering bids for 39,42,000 shares as against 25,23,000 shares on offer.

The category meant for non-institutional investors received 0.50 times subscription, while the quota for retail individual investors (RIIs) got subscribed 2.63 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, unlisted shares of HRH Next Services Ltd are currently trading Rs 8 higher in the grey market as compared with its issue price. The Rs 8 grey market premium or GMP means the grey market is expecting a 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.

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 Feburary 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.