Happy Forgings IPO Subscribed 82.04 Times On Day 3

The IPO was subscribed 82.04 times as of 7 p.m. on Thursday.

(Source: Happy Forgings website)

Happy Forgings Ltd.'s initial public offering to raise up to Rs 1,008.6 crore was subscribed 82.04 times on the final day.

The company's IPO was subscribed 2.32 times on day 1 and 7.46 times on day 2.

The IPO is a mix of fresh issue of Rs 400 crore and an offer for sale of Rs 608.6 crore. The company has fixed a price band in the range of Rs 808 to Rs 850.

IPO Details

  • Issue opens: Dec. 19.

  • Issue closes: Dec. 21.

  • Total issue size: Rs 1,008.6 crore.

  • Price band: Rs 808–850 per share.

  • Lot size: 17 shares.

  • Listing: BSE and NSE.

Also Read: Happy Forgings IPO - Investment Rationale, Issue Details, Financials, Risks And More: Anand Rathi

Business

Happy Forgings is the fourth-largest engineering-led manufacturer of complex and safety-critical, heavy-forged and high-precision machined components in India in terms of forgings capacity. The company primarily caters to domestic and global original equipment manufacturers.

It also serves a wide range of industries in the non-automotive sector—farm equipment, off-highway vehicles and industrial machinery for oil and gas, power generation, railways and wind turbine sectors.

Subscription Status: Day 3

The IPO was subscribed 82.04 times as of 7 p.m. on Thursday.

  • Institutional investors: 220.48 times

  • Non-institutional investors: 62.17 times

  • Retail investors: 15.09 times

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Anjali Rai
Anjali Rai covers stock markets and business news at NDTV Profit. She holds... more
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