Happy Forgings IPO: Check, GMP, refund, demat transfer, listing and other details
Happy Forgings IPO timeline
After the allotment gets finalised, investors can expect the transfer of shares in their demat accounts on December 26, Tuesday. For those who did not get allotment, the refunds are likely to be made by Tuesday.
Happy Forgings IPO subscription status
The issue has received a strong subscription of 82 times at close. The massive subscription of the IPO was driven by institutional investors.
The categories reserved for retail investors and NIIs were subscribed 15 times and 62 times, respectively. The QIB portion has been booked 220 times.
About Happy Forgings
Happy Forgings is an engineering-led manufacturer of safety-critical, heavy forged and high-precision machined components.
The company caters to domestic and global original equipment manufacturers, manufacturing commercial vehicles in the automotive sector. While in the non-automotive sector, its clients are manufacturers of farm equipment, off-highway vehicles, industrial equipment and machinery for oil and gas, power generation, railways and wind turbine industries.
It makes a wide range of forged and machined products such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets and valve bodies across industries for a diversified base of customers.
Happy Forgings IPO proceeds
Net proceeds are proposed to be utilised for the purchase of equipment, plant and machinery, prepayment of debt and other general corporate purposes.
Happy Forgings financials
For the six months ended September, the company clocked revenues of Rs 600 crore, while profit stood at Rs 116 crore.
In FY23, revenues rose 39% to Rs 1196 crore and profit jumped 47% to Rs 209 crore. During
. Read more on economictimes.indiatimes.com
