Happy Forgings IPO Subscribed 7.46 Times On Day 2
The IPO was subscribed 7.46 times as of 5 p.m. on Wednesday.
Happy Forgings Ltd.'s initial public offering to raise up to Rs 1,008.6 crore opened on Tuesday.
The company's IPO was subscribed 2.32 times on Day 1. Investors can subscribe to the offer till Thursday.
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. The minimum order lot is 17
IPO Details
Issue opens: Dec. 19.
Issue closes: Dec. 21.
Total issue size: Rs 1,008 crore.
Price band: Rs 808–850 per share.
Lot size: 17 shares.
Listing: BSE and NSE.
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 2
The IPO was subscribed 7.46 times as of 5 p.m. on Wednesday.
Institutional investors: 0.45 times or 45%
Non-institutional investors: 16.5 times
Retail investors: 7.41 times
