Happy Forgings IPO opens today; Check the price tab, GMP, among the 10 important things to know before investing

Happy Forgings IPO: Happy Forgings Ltd launched its initial public offering (IPO) today, December 19. The company is a manufacturer of heavy duty steel machines and high precision machine components.

The Happy Forgings IPO is a book-build and will remain open for subscription until December 21.

Here are 10 important things to know about the Happy Forgings IPO:

1) Happy Forgings IPO date: Happy Forgings IPO opens for subscription on Tuesday, December 19, and will close on Thursday, December 21. The IPO allocation is expected to be completed on December 22.

2) Happy Forgings IPO details: The total issue size of Happy Forgings IPO is ₹1,008.59 crore which consists of fresh issue of equity shares ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares.

3) Happy Forgings IPO Price Band: Happy Forgings IPO price band is set at ₹808 to ₹The price is 850 baht

4) Happy Forgings IPO Lot Size: IPO lots size is 17 shares and the minimum investment required by retail investors is ₹14,450.

5) Happy Forgings IPO subscription: The company has reserved 50% of the shares in the IPO for qualified institutional buyers (QIB), 35% of the offer for retail investors and the remaining 15% for non-institutional investors (NII).

6) Happy Forgings IPO Listing: Happy Forgings IPO will be listed on both stock exchanges – BSE and NSE, with a fixed listing date of December 27.

7) Happy Forgings IPO Lead Managers, Registrar: JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the book-runners for the Happy Forgings IPO, while Link Intime India Private Ltd is the IPO registrant.

8) Happy Forgings IPO objective: The company proposes to use the net issue to purchase equipment, plant and machinery; Prepayment of all or part of outstanding loans exclusively and for general corporate purposes.

9) Happy Forgings IPO Anchor Allotment: Happy Forgings Ltd on Monday collected ₹303 crore from anchor investors, before the opening of the IPO today. The company allotted 35,59,740 shares at ₹850 per share to 25 anchor investors, according to stock exchange documents.

10) Happy Forgings ipo gmp today: Happy Forgings ipo gmp today, or popular in the gray market today, is ₹430 per share, according to market observers. This indicates that Happy Forgings shares are trading at a price of 50.59% to the price issued at ₹1,280 pieces in the gray market.

Happy Forgings IPO Review:

Happy Forgings’ diversified product portfolio, along with its focus on high-margin and value-added products, has contributed to its transformation from a leading forging business to a leading player in the machine component manufacturing industry.

“In the highest price band, the company is evaluating a P/E of 38.4x with a market value of. ₹80,074 million issued shares of shares and the return on net worth of 21.12%. In terms of valuation, we believe the company is fairly priced,” said Anand Rathi Share and Stock Brokers.

The brokerage firm recommends a “hold-long” rating on the Happy Forgings IPO.