Happy Forgings IPO, which opened for subscription on December 19, witnessed an impressive total subscription of 82.04 times. Institutional investors showed substantial interest, subscribing 220.48 times, while non-institutional investors and retail investors subscribed 62.17 times and 15.09 times, respectively.
The Happy Forgings IPO, valued at Rs 1,008.59 crores, is a combination of a fresh issue of 0.47 crore shares amounting to Rs 400.00 crores and an offer for sale of 0.72 crore shares totalling Rs 608.59 crores. The issue is set within a price band of Rs 808 to Rs 850 per share, with a minimum lot size of 17 shares.
Happy Forgings IPO Allotment Date
The allotment of shares for Happy Forgings Limited is expected to be finalised on Friday, December 22.
*This is a tentative date and is subject to change
Happy Forgings IPO Listing Date
The shares of Happy Forgings Limited are set to list on both BSE and NSE on Wednesday, December 27.
*This is a tentative date and is subject to change
Investors can check Happy Forgings IPO allotment status on the official registrar website for IPO, Link Intime Pvt Ltd and on the official BSE website.
Happy Forgings IPO Subscription Status
Subscription Day 3
Total Subscription: 82.04 times
Institutional investors: 220.48 times
Non-institutional investors: 62.17 times
Retail investors: 15.09 times
Subscription Day 2
Total Subscription: 7.46 times
Institutional investors: 0.45 times or 45%
Non-institutional investors: 16.5 times
Retail investors: 7.41 times
Subscription Day 1
Total Subscription: 2.32 times
Institutional investors: 0.01 times
Non-institutional investors: 3.58 times
Retail investors: 3.03 times
Happy Forgings IPO Timeline (Tentative Schedule)
IPO Open Date: December 19
IPO Close Date: December 21
Basis of Allotment: December 22
Initiation of Refunds: December 26
Credit of Shares to Demat: December 26
Listing Date: December 27
Happy Forgings IPO Issue Details
Total Issue Size: Rs 1,008.59 Crores
Face Value: Rs 2 per share
Fresh Issue Size: Rs 400.00 Crores
Shares for Fresh Issue: 4,705,882
Offer for Sale Size: Rs 608.59 Crores
Shares for Offer for Sale: 7,159,920
Price Band: Rs 808 to Rs 850 per share
Lot Size: 17 Shares
About Happy Forgings Limited
Happy Forgings Limited is an Indian company that started in July 1979. They're experts in making heavy forgings and precise machine parts. They create things like crankshafts, axle carriers, and other parts for various industries. Some of their customers include AAM India, Ashok Leyland, JCB India, and more. They sell their products in countries like Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the UK, and the USA. The company has three factories in Ludhiana, Punjab. In the financial year 2023, their revenue went up by 43.02%.