Happy Forgings share price lists with 17.8% premium at ₹1001.25 apiece on BSE

  • Happy Forgings share price made a decent stock market debut as the stock was listed with a 17.79% premium to the issue price at 1001.25 apiece on the BSE.

Ankit Gohel
Published27 Dec 2023, 10:00 AM IST
Happy Forgings shares price began trading at  <span class='webrupee'>₹</span>1,000 apiece, a premium of 17.64% on NSE.
Happy Forgings shares price began trading at ₹1,000 apiece, a premium of 17.64% on NSE.(Image: NSE)

Happy Forgings share price made a decent stock market debut on Wednesday as the stock was listed at 1001.25 apiece on the BSE, a premium of 17.79% to the issue price of 850 per share.

On NSE, Happy Forgings shares 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. 

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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.

Also Read: Shanti Spintex shares lists at 76 apiece on BSE SME, a premium of over 8%

Happy Forging is the fourth largest engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India as of Fiscal 2023 in terms of forgings capacity. 

The company, through its vertically integrated operations, is engaged in engineering, process design, testing, manufacturing, and supply of a variety of components that are both margin accretive and value-additive. 

The company primarily caters to domestic and global original equipment manufacturers (OEMs) manufacturing commercial vehicles in the automotive sector, while in the non-automotive sector, they cater to manufacturers of farm equipment, off-highway vehicles and manufacturers of industrial equipment and machinery for oil and gas, power generation, railways, and wind turbine industries.

Read all IPO-related news here

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First Published:27 Dec 2023, 10:00 AM IST
HomeMarketsIPOHappy Forgings share price lists with 17.8% premium at ₹1001.25 apiece on BSE

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