By News18
White Force IPO GMP Today: The initial public offering of Happy Square Outsourcing Services Limited opened Today, Thursday, July 3. The NSE SME IPO aims to raise Rs 24.25 crore through the public issue. Till 1:44 pm on the first day of bidding on Thursday, the issue received a 0.28 times subscription, garnering bids for 5,79,200 shares as against the 20,33,600 shares on offer.
The retail and NII participation stood at 0.19x and 0.88x, respectively.
Happy Square Outsourcing Services, founded in April 2017, is a company specialising in tech-based HR outsourcing solutions, including recruitment, payroll, onboarding, and flexible staffing. The company trades under the ‘White Force’ brand.
The three-day IPO bidding will be closed on July 7.
White Force IPO GMP Today
According to market observers, unlisted shares of Happy Square Outsourcing Services Ltd are currently trading at Rs 81 over its upper IPO price of Rs 76. It means a grey market premium or GMP of Rs 5, which is 6.58% over its issue price, indicating small listing gains for investors.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
White Force IPO Allotment And Listing Dates
The basis of allotment of the White Force IPO will be finalised on July 8.
Its listing will take place on July 10, on the NSE Emerge platform.
White Force IPO Price And Lot Size
The price band of the IPO has been fixed in the range of Rs 72 to Rs 76 apiece.
Its minimum lot size is 1,600. It means investors will have to apply for a minimum of 1,600 shares or in multiple thereof.
Retail investors require a minimum capital of Rs 2,30,400 to apply for the IPO.
White Force IPO: Other Info
The White Force IPO, a bookbuilding of Rs 24.25 crore, is entirely a fresh issue of 31.90 lakh shares.
The proceeds will be utilised towards funding working capital requirements and general corporate purposes.
Happy Square Outsourcing Services Limited’s revenue increased by 40% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2025 and March 31, 2024.
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 White Force IPO is Giriraj Stock Broking Private Limited.