The Happy Forgings IPO started on December 19, 2023, and ended on December 21, 2023. Shares were allocated on December 22, 2023, and refund processes began on December 26, 2023. On December 26, 2023, the shares were credited to investors demat accounts. Happy Forgings was officially listed on the stock exchange on December 27, 2023.
During the IPO, Happy Forgings offered shares at a price range of ₹808 to ₹850 per share, and the lot size was 17 shares. The total issue size was ₹1,008.59 crores, with ₹400.00 crores from new shares and ₹608.59 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Happy Forgings IPO Subscription Update Video
Happy Forgings IPO Subscription Status
The Happy Forgings IPO on December 20, 2023 was subscribed 7.69 times, with the retail category being subscribed 7.87 times, the NII (Non-Institutional Investor) category being subscribed 16.94 times, the QIB (Qualified-Institutional Buyers) category being subscribed 0.44 times.
| Category | Subscription |
| QIB | 0.44x |
| NII | 16.94x |
| Retail | 7.87x |
| Total | 7.69x |
Happy Forgings IPO Basic Details
| Company Name | Happy Forgings Limited |
| Domain of Company | Forging Company |
| Happy Forgings IPO Open Date | December 19, 2023 |
| Happy Forgings IPO Close Date | December 21, 2023 |
| Happy Forgings IPO Allotment Date | December 22, 2023 |
| Happy Forgings IPO Listing Date | December 27, 2023 |
| Face Value | ₹2 per share |
| Price | ₹808 to ₹850 per share |
| Lot Size | 17 Shares |
| Issue Size | 11,865,802 shares of ₹2 (aggregating up to ₹1,008.59 Cr) |
| Fresh Issue | 4,705,882 shares of ₹2 (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 7,159,920 shares of ₹2 (aggregating up to ₹608.59 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Company Promoters | Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF) |
About Happy Forgings Limited
Happy Forgings Limited started its journey in July 1979. It’s an Indian company that specializes in making heavy forgings and high-precision machined components.
What they do is pretty cool—they design, make, and test all sorts of things like crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies. These items go to different industries and customers who need them.
Their customers are big names like AAM India Manufacturing Corporation Private Limited, Ashok Leyland Limited, Bonfiglioli Transmissions Private Limited, Dana India, IBCC Industries (India) Private Limited, International Tractors Limited, JCB India Limited, Liebherr CMCtec India Private Limited, Mahindra & Mahindra Limited, Meritor HVS AB, Meritor Heavy Vehicle Systems Cameri SPA, SML ISUZU Limited, Swaraj Engines Limited, and more.
And get this—their reach goes beyond India. They’ve served customers in Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America.
Happy Forging Limited has three places where the magic happens. Two of them are in Kanganwal, and the other one is in Dugri. All these spots are in Ludhiana, Punjab.
Oh, and as of FY 2023, the company’s revenue is up by a whopping 43.02%! That’s pretty impressive.
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Happy Forgings IPO FAQs
What is the start and end date of Happy Forgings IPO Subscription?
The Happy Forgings IPO started on December 19, 2023, and ended on December 21, 2023.
When does Happy Forgings IPO Subscription open?
The Happy Forgings IPO open on December 19, 2023.
When does Happy Forgings IPO Subscription close?
The Happy Forgings IPO Close on December 21, 2023.
What is the allotment date of Happy Forgings IPO?
The allotment date for Happy Forgings IPO is December 22, 2023.
When is the initial refund date of Happy Forgings IPO?
The initial Refund date for Happy Forgings IPO is December 26, 2023.
When were the shares credited to investors demat accounts for the Happy Forgings IPO?
The shares for the Happy Forgings IPO were credited to investors demat accounts on December 26, 2023.
When will Happy Forgings IPO be listed on the stock market?
Happy Forgings IPO stock market will be listed on December 27, 2023 at 10 am.
What was the price range of the Happy Forgings IPO shares?
The Happy Forgings IPO shares were offered at a price range of ₹808 to ₹850 per share.
What was the lot size for the Happy Forgings IPO shares?
The lot size for the Happy Forgings IPO shares was 17 shares.
What was the total issue size of the Happy Forgings IPO?
The total issue size of the Happy Forgings IPO was ₹1,008.59 crores.
How were the shares allocated among different types of investors for the Happy Forgings IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Happy Forgings IPO listed?
The Happy Forgings IPO was listed on both the NSE and BSE.
What is the Happy Forgings IPO Subscription Status?
Happy Forgings IPO is subscribed 7.69 Times.
