Happy Forgings IPO –
Hare allotment to be finalised today after strong subscription. Check status, GMP and listing date. English/Hindi
December 27 is when the company’s shares are expected to go live on the exchanges. Market insider information indicates that the Happy Forgings initial public offering (IPO) is presently trading in the unlisted market at a premium of Rs 435.
27 दिसंबर को कंपनी के शेयर एक्सचेंजों पर लाइव होने की उम्मीद है। बाजार की अंदरूनी जानकारी से पता चलता है कि हैप्पी फोर्जिंग्स की आरंभिक सार्वजनिक पेशकश (आईपीओ) वर्तमान में गैर-सूचीबद्ध बाजार में 435 रुपये के प्रीमियम पर कारोबार कर रही है।
Today is expected to see the completion of the Happy Forgings IPO share allotment. The registrar supervised the entire process of allocating shares to investors through a lottery system.
Investors are notified of the number of shares allotted to them based on their bids on the specified allotment date. Investors can check their allotment status by going to the registrar’s website or through the Bombay Stock Exchange (BSE). Here are comprehensive instructions for using the BSE to view the allotment status:
Happy Forgings IPO:
- Go to the BSE website:
Go to www.bseindia.com to access the Bombay Stock Exchange’s official website. - Where is the ‘IPO’ Section?
On the BSE homepage, look for the ‘IPO’ section. Usually, this section is easily accessible and prominently displayed. - Decide to ‘Allotment Status’:
Find and select the ‘Allotment Status’ option under the ‘IPO’ section. This will take you to the page where the details of the share allotment can be checked. - Select the Happy Forgings IPO: From the list of available IPOs, choose the Happy Forgings IPO once you’re on the allotment status page. You will be taken to a Happy Forgings page as a result.
- Select the Happy Forgings IPO: From the list of available IPOs, choose the Happy Forgings IPO once you’re on the allotment status page. You will be taken to a Happy Forgings page as a result.
- Enter the information for your application:
Please enter the necessary data, such as your application number, PAN (Permanent Account Number), or any other information requested, in order to view your specific allotment details. - Submit and Check Allotment Status: Once the required information has been entered, submit the data. After that, the system will show you your Happy Forgings IPO allotment status and the number of shares that have been allotted to you.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company’s name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
Happy Forgings GMP:
December 27 is when the company’s shares are expected to go public. According to market reports, Happy Forgings is presently trading at a premium of Rs 435 in the unlisted market.
If the current trends continue, the stock is expected to debut at a projected premium of 51%, with the upper price band set at Rs 500.
27 दिसंबर को कंपनी के शेयरों के सार्वजनिक होने की उम्मीद है। बाजार रिपोर्ट के मुताबिक, हैप्पी फोर्जिंग्स फिलहाल गैर-सूचीबद्ध बाजार में 435 रुपये के प्रीमियम पर कारोबार कर रहा है।
यदि मौजूदा रुझान जारी रहता है, तो स्टॉक के 51% के अनुमानित प्रीमियम पर शुरू होने की उम्मीद है, जिसका ऊपरी मूल्य बैंड 500 रुपये है।
Happy Forgings IPO subscription:
Strong interest from institutional investors drove Happy Forgings’ impressive 82.04 times oversubscription at the close of their initial public offering (IPO). Notably, subscription rates were 15 times higher for the retail investor segment and 62 times higher for the Non-Institutional Investors (NIIs) segment. With significant demand, the Qualified Institutional Buyer (QIB) portion reached an astounding 220 times oversubscription.
Happy Forgings is an engineering-driven manufacturer with a wide range of products, specializing in safety-critical, heavy forged, and extremely precise machined components. Crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets, and valve bodies are just a few of the many products they offer to a wide range of industries and clients.
The net proceeds from the initial public offering (IPO) will be used by the company for strategic objectives such as debt repayment, general corporate needs, and the purchase of machinery and equipment.
For the six months that ended in September 2023, Happy Forgings showed strong financial performance, with revenues of Rs 600 crore and a profit of Rs 116 crore. Significant growth was observed in the fiscal year 2023, as profits increased by an astounding 47% to Rs 209 crore and revenues soared by 39% to Rs 1196 crore. This outstanding financial result highlights the company’s capabilities and prospects for long-term success in its industry.
Happy Forgings IPO During FY 21-23, its revenue, EBITDA and PAT clocked a CAGR of 43%, 47% and 55%, respectively. Meanwhile, RoCE improved from 14% in FY21 to 22% in FY23.
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Key details of Happy Forgings IPO include:
Grey market premium (GMP): Rs 430 per share (Approx).
Price band: Rs 808 to Rs 850 per equity share.
IPO dates: Opened today, closing on December 21, 2023.
IPO size: Aiming to raise Rs 1,008.59 crore, comprising Rs 400 crore through fresh shares and Rs 608.59 crore through Offer for Sale (OFS).
Lot size: One lot comprises 17 company shares.
Allotment date: Expected on December 22, 2023, following the T+3 listing rule.
Registrar: Link Intime India Private Limited.
Listing: On BSE and NSE.
Listing Date: Likely on December 27, 2023.
Happy Forgings IPO Brokerage views:
A number of brokerages, including Anand Rathi, Choice Broking, StoxBox, and Swastika Investmart, have given the IPO a subscribe rating.
In an IPO note, Anand Rathi stated that Happy Forgings’s shift from a forging-led company to a major participant in the machined component manufacturing sector can be attributed to its diverse product line and emphasis on margin-accretive and value-additive items.
It added that it also provides services to a broad range of industries, such as the oil and gas, power generation, wind turbine, automotive, farm equipment, and off-highway vehicle sectors.
With a market capitalization of Rs 80,074 million after the issuance of equity shares and a return on net worth of 21.12%, the company is valued at a P/E of 38.4x at the top price range. Regarding valuation, we think the business is priced appropriately. As a result, we advise the IPO to receive a “Subscribe – Long Term” rating, it continued.
Choice Broking rated the initial public offering (IPO) as “subscribe with caution.”
The statement read, “With 40 years of experience, HFL is the fourth-largest manufacturer of complex machine components and has a wealth of knowledge.” The business has steadily increased both its top and bottom lines while building enduring relationships with its clients.
Happy Forgings IPO Rs. 435/-
