Happy Forgings IPO Subscribed 82.04 Times On Day 3
The IPO was subscribed 82.04 times as of 7 p.m. on Thursday.
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.
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
