Happy Forgings IPO Review: Thinking about investing in Happy Forgings IPO? See what Anil Singhvi recommends!
Happy Forgings, a company in Ludhiana, is launching its IPO. They make important heavy parts and precision components. The IPO includes new shares worth Rs. 400 crore and the sale of existing shares worth Rs.608.6 crore by promoters and current shareholders.
Highlights
- Happy Forgings IPO sold from December 19 to 21.
- Share price ranged from Rs 808 to Rs 850, with a lot size of 17 shares.
- The IPO raised Rs 1009 crore.
- It is set to be listed on Wednesday, December 27.
Happy Forgings IPO
Happy Forgings launched its IPO on December 19 to raise up to Rs 1,008.6 crore. The company, based in Ludhiana, specializes in manufacturing complex and safety-critical heavy forged components. The IPO includes fresh shares worth Rs 400 crore and an offer for sale (OFS) worth Rs 608.6 crore by promoters and existing shareholders.
Key points to know about the Happy Forgings IPO
- Subscription Status: The IPO was fully subscribed on the first day, December 19, itself.
- Bidding Process: The three-session bidding process concluded on December 21.
- Overwhelming Response: By the end of Friday, the IPO received bids for 68,62,98,466 Happy Forgings shares, which is 82.04 times the equity on offer (83.7 lakh shares), as per provisional exchange data.
| Category | Subscription (No. of times the equity reserved) |
|---|---|
| Qualified Institutional Buyers | 220.48 |
| Non-institutional Investors | 62.17 |
| Retail Investors | 15.09 |
| Overall | 82.04 |
Happy Forgings IPO Review: Anil Singhvi’s Recommendation
Zee Business Managing Editor, Anil Singhvi, advises investors to consider applying for the Happy Forgings IPO, anticipating significant gains in both listing and long-term prospects.
Key Points Identified by Anil Singhvi:
Positive:
- Experienced promoters
- Regular capex for robust growth
- Impressive financial growth record with the highest margins among peers
- Reasonable valuations
Negative:
- High working capital requirements
- Difficult to find any significant negatives in the company
Additional Key Details about the Happy Forgings IPO
- IPO Date: December 19, 2023, to December 21, 2023
- Face Value: Rs 2 per share
- Price Band: Rs 808-850 per share
- Lot Size: 17 shares
- Allotment Date: Friday, December 22, 2023
- Listing Date: Wednesday, December 27, 2023
Lead Managers and Registrar
- Book Running Lead Managers: JM Financial, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors
- Registrar: Link Intime India
About Happy Forgings
Incorporated in 1979, Happy Forgings is an Indian manufacturer specializing in designing and manufacturing heavy forging and high-precision machined components.
