Happy Forgings IPO
Happy Forgings Limited launched its initial public offering (IPO) today December 19. The organization specializes in crafting robust forgings of considerable weight and precision-engineered machined components.
Happy Forgings IPO is a book-built issue and will remain open for subscription until December 21.
About Happy Forgings IPO Company
In India, when it comes to forging capabilities, we stand as the fourth-largest engineering-based manufacturer, specializing in intricate and safety-critical heavy forgings and high-precision machined components. We are deeply involved in engineering, process design, testing, and manufacturing through our broad integrated operations.
We provide a range of elements that support value-driven results as well as margin improvement. Serving Original Equipment Manufacturers (OEMs) involved in the domestic and international manufacture of commercial vehicles in the automobile industry is our main priority. We serve producers of machinery, off-highway vehicles, industrial equipment, and agricultural equipment in the non-automotive industry.
Serving the oil and gas, power generating, railroad, and wind turbine manufacturing industries is part of this. We take great satisfaction in offering these industries vital support with our extensive selection of top-notch items.
Discover these essential 10 insights about the Happy Forgings IPO:
Happy Forgings IPO Dates
Happy Forgings IPO will open for subscription on Tuesday, December 19, and close on Thursday, December 21. The IPO allotment is expected to be finalized by December 22.
Happy Forgings IPO Details
The total issue size of Happy Forgings IPO is ₹1,008.59 crores, including a fresh issue of equity shares worth ₹400 crores and an offer for sale (OFS) of 71.59 lakh shares.
Happy Forgings IPO Price Band
The price band for Happy Forgings IPO is set at ₹808 to ₹850 per share.
Happy Forgings IPO Lot Size
The lot size for the IPO is 17 shares, and the minimum investment amount required for retail investors is ₹14,450.
Happy Forgings IPO Reservation
The company has reserved 50% of the shares for qualified institutional buyers (QIBs), 35% for non-institutional investors (NIIs), and the remaining 15% for retail investors.
Happy Forgings IPO Listing
Happy Forgings IPO will be listed on both BSE and NSE, with the tentative listing date set for December 27.
Happy Forgings IPO Lead Managers, Registrar
JM Financial, Axis Capital, IIFL Securities, and Motilal Oswal Investment Advisors are the lead managers for Happy Forgings IPO, while Link Intime India Private Limited is the registrar.
Happy Forgings IPO Objectives
The company aims to utilize the net proceeds from the IPO for the purchase of machinery, plant, and equipment, prepayment of certain debts, and general corporate purposes.
Happy Forgings IPO Anchor Allotment
Before the IPO opened, Happy Forgings Limited raised ₹303 crores from anchor investors on Monday. The company allotted 35,59,740 equity shares to anchor investors at ₹850 per share.
Happy Forgings IPO GMP Today
According to market observers, the grey market premium (GMP) for Happy Forgings IPO today is ₹430 per share. This suggests that Happy Forgings shares are trading at a 50.59% premium in the grey market compared to the IPO’s issue price of ₹850 per share.
Happy Forgings IPO Review
With a diverse product portfolio focusing on margin growth and value-added products, Happy Forgings has contributed to the manufacturing industry of machine components as a leading player in the forging-based business.
“At the upper price band, the company’s valuation stands at a P/E of 38.4x, with a market cap of ₹80,074 million post the issuance of equity shares, and a return commented Anand Rathi, a seasoned stock and share broker, on the net worth indicating a return of 21.12%.
He added, “On the valuation front, we believe that the company’s price is justified.”
Brokerage firms have recommended a “Subscribe – Long Term” rating for Happy Forgings IPO.
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