Happy Forgings IPO Allotment Status: Listing Date, Application Status and More

Happy Forgings is expected to release the basis for share allotment on Friday, December 22. Bidders will receive notifications, alerts, or emails regarding the debit of their monies or the revocation of their IPO mandate over the weekend or by Tuesday at the latest. The major offering of the manufacturer of forgings and precisely machined components had a strong reaction from bidders.

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Credit: Zee Business

Happy Forgings issued its initial public offering (IPO) at a price range of Rs 808-850 per share, with a lot size of 17 shares available for bidding between December 19 and December 21. The business hoped to generate about Rs. 1,008.59 crore through its primary offering, which included a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 47,05,882 equity shares.

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The offer was subscribed to 82.04 times overall, with the component for qualified institutional bidders (QIBs) being booked a remarkable 220.48 times, and the non-institutional investors’ category being subscribed to 62.17 times. During the bidding procedure, the retail investor quota was subscribed to 15.09 times.

Happy Forgings’ grey market premium (GMP) has remained constant, despite aggressive bidding from QIB investors amid increased market volatility. Last heard the business was asking a premium of Rs 420-440 per share, implying a 48-52 percent listing boost for investors.

Happy Forgings, founded in July 1979, is an Indian firm that specializes in developing and producing heavy forgings and high-precision machined components. Happy Forging has three production sites in Ludhiana, Punjab, two in Kanganwal, and one in Dugri.

Brokerage companies were mainly favorable on the issue of Happy Forgings and recommended that investors subscribe to it, noting its solid business strategies, expanding demand for its goods, long-term relationships with its customers, great financial performance, and a track record of constant development. The primary threats, however, were identified as price power among large clients and intense competition.

The book running lead managers for the IPO are JM Financial, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors, with Link Intime India serving as the registrar. The company’s shares will be listed on both the BSE and the NSE, with a preliminary listing date of December 27, Wednesday.

Investors who bid on Happy Forgings’ IPO can check the allotment status on the BSE website’s IPO application check page. Check-in equity, under issue type, and pick Happy Forgings Limited from the dropdown; put in the application number and PAN card number before checking in at ‘I am not a Robot’ before clicking the submit button.

The status of allotments may also be monitored via the web portal of Link Intime India, the issue’s registrant. Visit the Kfin Tech website and choose the Happy Forgings IPO from the dropdown menu. Enter your PAN card number, application number, or DP client ID as the selected tab and click ‘ search’ to find out the status of your application’s allocation.

Disclaimer: The stock market news provided by Axpert Media is for informative purposes only and should not be taken as financial advice. Before making any investing choices, readers should speak with a certified financial counselor.

Axpert Media News Desk
Axpert Media News Deskhttps://axpertmedia.in
Axpert Media News Desk is an Internet media Website and our goal is to reach out People all over world with News, Informations & Entertainment. Ect, founder & ceo Krishnaanand

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