IPO : Happy Forgings Limited
Happy Forgings Limited IPO
| SYMBOL | HAPPYFORGE |
| ISSUE TYPE | Book Built Issue IPO |
| ISSUE OPENS ON | Tuesday, December 19, 2023 |
| ISSUE CLOSES ON | Thursday, December 21, 2023 |
| ISSUE PRICE | ₹808 to ₹850 per share |
| ISSUE SIZE | Up to Rs.1,008.59 Crores |
| FACE VALUE | Rs.2 per share |
Happy Forgings IPO is a book built issue of Rs 1,008.59 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to Rs 400.00 crores and offer for sale of 0.72 crore shares aggregating to Rs 608.59 crores.
Thank you for reading this post, don't forget to subscribe!Happy Forgings IPO bidding opened for subscription on December 19, 2023 and will close on December 21, 2023. The allotment for the Happy Forgings IPO is expected to be finalized on Friday, December 22, 2023. Happy Forgings IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 27, 2023.
| MINIMUM BID | 17 shares |
| MINIMUM AMOUNT | Rs.14,450 |
| MAXIMUM BID | 221 shares |
| MAXIMUM AMOUNT | Rs.187,850 |
| PROMOTER HOLDING | 78.60% (Post-issue) |
| LISTING DATE | Wednesday, December 27, 2023 |
| LISTING AT | BSE, NSE |
Happy Forgings IPO price band is set at ₹808 to ₹850 per share. The minimum lot size for an application is 17 Shares. The minimum amount of investment required by retail investors is ₹14,450. The minimum lot size investment for sNII is 14 lots (238 shares), amounting to ₹202,300, and for bNII, it is 70 lots (1,190 shares), amounting to ₹1,011,500.
Objects of the Issue (Happy Forgings IPO Objectives)
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Purchase of equipment, plant and machinery.
- Prepayment of all or a portion of certain outstanding borrowings availed by the Company and
- General corporate purposes.
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