Happy Forgings IPO GMP

Happy Forgings Limited, a leading engineering manufacturer based in India, is set to launch its Initial Public Offering (IPO) on the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). The IPO will be open for subscription from December 19, 2023, to December 21, 2023. With a face value of Rs 2 per share, the price band for the IPO has been set at Rs 808 to Rs 850 per share. The lot size for this IPO is 17 shares or its multiples.

Also See: All IPO GMP Price Today

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One crucial aspect that investors often consider when participating in an IPO is the Grey Market Premium (GMP). The GMP is the price at which an IPO is traded unofficially in the grey market before its official listing on the stock exchange. In this blog, we will delve into the Happy Forgings IPO GMP, its implications, and the key details surrounding this much-anticipated IPO.

Also See: Upcoming IPO in India

Understanding Happy Forgings IPO GMP

As of the latest update, the Happy Forgings IPO GMP stands at ₹235 Today. Given the IPO’s price band of ₹850.00, the estimated listing price for Happy Forgings IPO is ₹1085 (calculated as the cap price plus today’s GMP). This suggests an expected percentage gain of 27.65%.

Here’s a summary of the recent GMP movements for Happy Forgings IPO: [Last Updated: 27 Dec, 2023; 09:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
27-12-2023₹850.00₹2353000/42000₹1085 (27.65%)
26-12-2023₹850.00₹2353000/42000₹1085 (27.65%)
25-12-2023₹850.00₹2823600/50400₹1132 (33.18%)
24-12-2023₹850.00₹3003900/54600₹1150 (35.29%)
23-12-2023₹850.00₹3003900/54600₹1150 (35.29%)
22-12-2023₹850.00₹4165400/75600₹1266 (48.94%)
21-12-2023₹850.00₹4064500/63000₹1256 (47.76%)
20-12-2023₹850.00₹4355600/78400₹1285 (51.18%)
19-12-2023₹850.00₹4445700/79800₹1294 (52.24%)
18-12-2023₹850.00₹4305600/78400₹1280 (50.59%)
17-12-2023₹850.00₹4105300/74200₹1260 (48.24%)
16-12-2023₹850.00₹4205900/82600₹1270 (49.41%)
15-12-2023₹850.00₹4605900/82600₹1310 (54.12%)
14-12-2023₹850.00₹4605900/82600₹1310 (54.12%)
13-12-2023₹25₹25 (–)
12-12-2023₹0₹ (0%)

It’s important to note that the Grey Market Premium is a reflection of how the IPO might perform on the day of listing. A positive GMP suggests that the IPO is likely to debut at a profit, while a negative GMP indicates that it may debut at a discount.

However, it’s crucial for investors to exercise caution and not base their investment decisions solely on the IPO GMP. The grey market is unregulated and highly volatile, making it a risky indicator. Before investing in the Happy Forgings IPO or any IPO, it’s essential to consider all factors, conduct thorough research, and make an informed investment decision.

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Happy Forgings IPO

About Happy Forgings

Happy Forgings is the fourth-largest engineering-led manufacturer of complex and safety-critical heavy forged and high-precision machined components in India, in terms of capacity. The company’s product portfolio includes a wide range of forged and machined products such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products, and more.

Happy Forgings serves both domestic and global original equipment manufacturers (OEMs) and operates in various sectors, including automotive, farm equipment, off-highway vehicles, industrial components, power generation, railways, oil and gas, and wind turbine industries. In fiscal year 2023, the company generated revenue of Rs 10,669.49 million, with 43.65% of revenue coming from the automotive sector and the remaining 56.35% from the non-automotive sector.

The company boasts a diverse customer base that includes renowned names such as 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, and more. Happy Forgings has a global presence, serving customers in nine countries, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the USA.

Also Read: Medi Assist Healthcare Services and Appejay Surrendra Park Hotels Receive SEBI Nod for IPOs

Happy Forgings IPO Strengths

  1. Fourth-largest engineering-led manufacturer of complex and safety-critical heavy forged and high-precision machined components.
  2. Integrated manufacturing facilities and process design capabilities.
  3. Diversified customer base in both the automotive and non-automotive sectors.
  4. Consistent track record of healthy financial performance.
  5. An experienced team of promoters and managers.

Also Read: Azad Engineering Announces IPO Price Band at Rs 499-524; Subscription to Open on December 20

IPO Objective and Use of Proceeds

The company plans to utilize the net proceeds from the Fresh Issue for the following purposes:

  1. Purchase of equipment, plant, and machinery.
  2. Prepayment of all or a portion of certain outstanding borrowings availed by the Company.
  3. General corporate purposes.

Happy Forgings IPO Dates

Here are the important dates for the Happy Forgings IPO:

  • IPO Open Date: December 19, 2023
  • IPO Close Date: December 21, 2023
  • Basis of Allotment Finalization Date: December 22, 2023
  • Refunds Initiation: December 26, 2023
  • Credit of Shares to Demat Account: December 26, 2023
  • IPO Listing Date: December 27, 2023
Happy Forgings IPO

Conclusion

The Happy Forgings IPO has generated significant interest among investors, and the Grey Market Premium indicates positive sentiment. However, it’s crucial for potential investors to conduct thorough research, analyze the company’s fundamentals, and consider their own risk tolerance before making investment decisions. IPOs can be rewarding but also carry inherent risks, and it’s essential to make informed choices based on a comprehensive understanding of the company and market conditions. Happy Forgings’ impressive track record and market presence make it a company worth watching as it enters the public markets.

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