Happy Forgings is expected to make an announcement on Friday, December 22, about the basis for sharing its shares. Over the weekend, or at the latest by Tuesday, bidders will receive notifications, alerts, or emails regarding the debiting of their funds or the revocation of their IPO mandate. The bidders had responded well to the forgings and precision machined components manufacturer’s first offer.

Happy Forgings held an initial public offering (IPO) between December 19 and December 21, with a lot size of 17 shares and a price range of Rs 808-850 per share. Through its primary offering, which comprised an offer-for-sale (OFS) of up to 47,05,882 equity shares and a new share sale of Rs 400 crore, the company hoped to raise about Rs 1,008.59 crore.

The component reserved for qualified institutional bidders (QIBs) was booked a staggering 220.48 times, while the category for non-institutional investors was subscribed 62.17 times. The issue was subscribed an astounding 82.04 times total. During the bidding procedure, the retail investor quota was subscribed 15.09 times.

Happy Forgings’ grey market premium (GMP) has not changed despite strong bidding from QIB investors and increased market volatility. As of the last hearing, the company was asking a premium of Rs 420–440 per share, indicating a 48–52% listing premium for investors.

Happy Forgings is an Indian firm that was founded in July 1979 and specializes in creating hefty forgings and highly accurate machined components. Happy Forging is based in Ludhiana, Punjab, with three manufacturing facilities: two in Kanganwal and one in Dugri.

Brokerage firms were largely in favor of Happy Forgings and advised subscribing to it due to its solid business strategies, growing product demand, enduring customer relationships, great financial performance, and history of steady growth. The main dangers, however, were identified as fierce rivalry and price power among large clients.

The book running lead managers for the IPO are JM Financial, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors. Link Intime India is the registrar for the offering. The company’s shares are scheduled to go on sale on Wednesday, December 27, at both the BSE and NSE.

Investors who placed a bid for Happy Forgings can visit the IPO application check page on the BSE website to verify the allotment status. Check-in equity: Under “I am not a Robot,” choose Happy Forgings Limited from the drop-down menu; enter the application number and PAN card number before checking in, then click the “Submit” button.

The registrar of the issue, Link Intime India, has an online facility where one can check the progress of their allocation. Go to the Kfin Tech website and choose Happy Forgings’ IPO from the dropbox. To find out the allotment status for your application, enter your PAN card number, application number, or DP client ID on the designated tab and click “search.”

Disclaimer: It is recommended that readers get advice from a licensed financial advisor prior to making any investing decisions.

By newsparviews.com

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