Happy Forgings Ltd. has set a price band of Rs 808–850 per share for its initial public offering that is scheduled to open next week, according to a company statement on Thursday.
The IPO is a mix of fresh shares worth Rs 400 crore and an offer for sale of 71.6 lakh equity shares worth Rs 608.6 crore. The face value of the equity shares is Rs 2 each and the total issue size is Rs 1,008.6 crore.
The maiden share sale will open on Dec. 19 and investors can subscribe to the offer till Dec. 21. The anchor portion will be available for subscription on Dec. 18.
Promoter Paritosh Kumar Garg (HUF) and investor India Business Excellence Fund – III are the selling shareholders in the OFS.
Happy Forgings is engineering-led manufacturer of complex and safety critical, heavy-forged and high-precision machined components in India. They primarily cater to domestic and global original equipment manufacturers manufacturing commercial vehicles in the automotive sector. They are also manufacturers of farm equipment, off-highway vehicles, industrial equipment and machinery for oil & gas, power generation, railways and wind-turbine industries.
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