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Happy Forgings IPO: Know the price band and GMP before investing money

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Happy Forgings IPO: Investors and financial enthusiasts are turning their attention to the Happy Forgings IPO, a significant opportunity in the investment landscape. With a total valuation of Rs 1,008.59 crore, the IPO is set to shape the market dynamics. Let’s delve into the essential details for those considering participation in this offering.

Important Dates for Happy Forgings IPO:

  • Opening Date: Tuesday, December 19, 2023
  • Closing Date: Thursday, December 21, 2023
  • Allotment Date: December 22, 2023
  • Refund for Unsuccessful Investors: December 26, 2023
  • Shares Credited to Demat Accounts (for successful investors): December 26, 2023
  • Listing on BSE and NSE: December 27, 2023

Pricing Details:

The price band for Happy Forgings IPO is set between Rs 808 to Rs 850 per share. The allocation is distributed with 50 percent earmarked for qualified institutional buyers, 35 percent for retail investors, and 15 percent for high-net-worth individuals.

Retail investors can bid for a lot of 17 shares, with a minimum bid amount of Rs 14,450 and a maximum of Rs 1,87,850. This distribution aims to provide a fair and inclusive opportunity for various investor segments.

Grey Market Premium (GMP) and Profit Indicators:

Before opening for general investors on December 19, the IPO was initiated for anchor investors on December 18. The company successfully raised Rs 302.58 crore in the anchor round. The Grey Market Premium (GMP) for Happy Forging’s shares stands at Rs 415. If this trend persists until listing day, subscribers may see a profitable listing at Rs 1265, presenting a potential profit of 48.82 percent.

About Happy Forging Limited:

Happy Forging, established in 1979, specializes in heavy forging and machine designing. The company reported a total profit of Rs 208.70 crore in the financial year 2023, contributing to a yearly revenue of Rs 1,197 crore. The funds raised through this IPO are earmarked for business expansion, fulfilling corporate objectives, and debt repayment.

As investors contemplate entering this opportunity, the Happy Forgings IPO stands as a strategic move for both the company and prospective shareholders. Stay tuned for updates as this investment narrative unfolds.

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