Happy Forgings IPO review: Should you subscribe? Here is what Anil Singhvi suggests

Happy Forgings IPO: Happy Forgings launched an initial public offer (IPO) to raise up to Rs 1,008.6 crore hit Dalal Street on Tuesday, December 19. The IPO Ludhiana-based Happy Forgings, a manufacturer of complex and safety critical, heavy forged and high precision machined components, comprises fresh issuance of shares worth Rs 400 crore, and an offer for sale (OFS) worth Rs 608.6 crore by promoters and existing shareholders.  

Here are all the key things you need to know about the Happy Forgings IPO:

Happy Forgings IPO subscription status

The IPO was fully subscribed on December 19 itself, the first day of the three-session bidding process that ends on December 21.

At the end of Friday, the IPO received bids for 68,62,98,466 Happy Forgings shares as against the 83.7 lakh shares on offer, a subscription of 82.04 times the equity on offer, according to provisional exchange data.

Here’s how different categories of investors responded to the issue: 

Happy Forgings IPO review: Should you apply for Happy Forgings IPO? Here is what market wizard Anil Singhvi recommends 

Zee Business Managing Editor Anil Singhvi suggests investors “must apply” for the Happy Forgings issue for a big listing gain as well as for the long term.  

The market guru has identified the following key points about Happy Forgings: 

Positive 

• Experienced promoters 
• Regular capex for strong growth 
• Impressive financial growth record highest margins in peers 
• Reasonable valuations 

Negative 

• High working capital requirements 
• Difficult to find any big negative in the company  

Happy Forgings IPO: Here are some of the other key details to know about the public offer: 

• Happy Forgings IPO Date: December 19, 2023 to December 21, 2023 

• Happy Forgings IPO face value: Rs 2 per share 

• Happy Forgings IPO price band: Rs 808-850 per share 

• Happy Forgings IPO lot size: 17 shares 

• Happy Forgings IPO allotment date: Friday, December 22, 2023 

• Happy Forgings IPO listing date: Wednesday, December 27, 2023 

JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers whereas Link Intime India is the registrar for the issue. 

What does Happy Forgings do? 

Incorporated in 1979, Happy Forgings is an Indian manufacturer specialising in designing and manufacturing heavy forging and high-precision machined components. 

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