Happy Forgings shares list with 17.8% premium at ₹1001.25 apiece on BSE
₹1001.25 apiece on the BSE, a premium of 17.79% to the issue price of ₹850 per share. On NSE, Happy Forgings shares price began trading at ₹1,000 apiece, a premium of 17.64%. The initial public offering (IPO) of Happy Forgings was launched on December 19 and the bidding process ended on December 21.
Happy Forgings IPO allotment was finalized on December 22 and the share listing date was fixed for today. Also Read: Muted Debut: RBZ Jewellers lists at ₹100, same as issue price Happy Forgings IPO received strong demand from investors across the board. The IPO was subscribed by an impressive 82.63 times.
The retail investors’ portion was subscribed 15.40 times, while the portion reserved for Non-Institutional Investors (NIIs) was subscribed by 63.45 times. The Qualified Institutional Buyers’ (QIB) segment was booked 214.65 times. Happy Forgings IPO size was ₹1,008.59 crore, which comprised a fresh issue of 47 lakh shares aggregating to ₹400 crore and an offer for sale (OFS) of 72 lakh shares aggregating to ₹608.59 crore.
The IPO price band was ₹808 to ₹850 per share. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) 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 issue proceeds towards purchase of equipment, plant and machinery, prepayment of certain outstanding borrowings and general corporate purposes.
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