Get the Latest Information on Happy Forgings IPO Allotment & GMP

Happy Forgings sold the IPO at Rs 808-850 per lot with  17 shares open for bidding from 12/19 to 12/21.

Happy Forgings is expected to announce a stock split on Friday, December 22nd. Bidders will receive messages, alerts or emails  over the weekend or no later than Tuesday to claim their funds or revoke their listing authority. The manufacturer’s initial offering of forged and precision machined components  received a solid response from  bidders.

Happy Forgings was sold at an IPO  price range of Rs 808-850 per share in a batch of 17 shares that were open for bidding from 12/19 to 12/21. The company aimed to raise approximately 1008.59 billion from its initial public offering. included the sale of fresh shares with a value of  400 million kroner and the offer (OFS) of up to 47,05,882 own shares.  

The issue was  subscribed a whopping 82.04 times while qualified institutional bidders (QIBs) were subscribed a whopping 220.48 times while  non-institutional investors and#039; category was ordered 62.17 times. The quota reserved for private investors was indicated 15.09 times during the acquisition.

Happy Forgings’ gray market premium (GMP)  remained stable following strong bidding from QIB investors amid increasing volatility in the wider market. Last I heard, the company subscribed for Rs 420-440 per share, giving investors a  48-52 percent IPO. 

Established in July 1979, Happy Forgings is an Indian manufacturer specializing in the design and manufacture of heavy duty forgings and high precision machined components. Happy Forging has three manufacturing facilities, two at Kanganwal and one at Dugri, all located in Ludhiana, Punjab.  

Brokerage firms were mostly positive about Happy Forgings and recommended an order based on healthy business models, growing demand for their products, long-term customer relationships, strong financial performance and  consistent growth. However, the main risks were considered to be the pricing power of large customers and tough competition.

JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the  lead managers for the IPO and Link Intime India is acting as the registrar for the issue. The company’s shares are listed on both BSE and NSE, with the initial listing date being December 27, Wednesday.  

Investors bidding for the Happy Forgings issue  can check the allotment status on the BSE website and the IPO  check page. Enter Equity under Issue Type and select Happy Forgings Limited from the dropdown box; enter application number and add  PAN card number before logging in and#039;I am not a Robot and#039; before pressing the submit button.

The distribution status can also be checked through the theme registrar’s online portal, Link Intime India. Visit the Kfin Tech web portal  and select  Happy Forgings IPO from dropbox. Enter either PAN Card Number, Application Number or DP Customer ID in the  selected tab and press and#039;search#039; to get the distribution status of your application.  

Disclaimer: Business Today provides stock market news for informational purposes only and should not be considered as investment advice. Readers are advised to consult  a qualified financial advisor before making any investment decision.