Happy Forgings IPO Day 1: Issue subscribed 64% so far; retail portion fully booked
₹1,008.59 crore from the IPO that will end on December 21. Let us check Happy Forgings IPO subscription status, GMP today and other key details: The ₹1,008.59 crore worth Happy Forgings IPO opened for subscription on December 19 and will close on December 21. The IPO comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares.
Happy Forgings IPO price band has been set at ₹808 to ₹850 per share. The IPO lot size is 17 shares and the minimum investment amount required by retail investors is ₹14,450. Read here: Happy Forgings IPO opens today; check price band, GMP, among 10 key things to know before investing The shares will list on both the stock exchanges - BSE and NSE, with a tentative listing date fixed on December 27.
The company has already raised ₹303 crore from anchor investors, ahead of its IPO opening. It has allocated 35,59,740 equity shares at ₹850 per share to the 25 anchor investors, as per stock exchange filing. JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers of the Happy Forgings IPO, while Link Intime India Private Ltd is the IPO registrar.
The company proposes to utilise the net issue proceeds towards the purchase of equipment, plant and machinery; prepayment of all or a portion of certain outstanding borrowings and for general corporate purposes. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Happy Forgings IPO has been subscribed 64% so far on December 19, the first day of the bidding process. The public issue received bids for 57.11 lakh equity shares as against 83.65 lakh shares on
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