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Happy Forgings IPO Opens Today: Is Subscribing to the Offering a Good Choice?

Happy Forgings IPO

Happy Forgings, an Indian company specializing in heavy forgings and high-precision machined components, is set to launch its initial public offering (IPO) on Tuesday, December 19. With shares priced between Rs 808-850 each, the IPO aims to raise Rs 1,008.59 crore. But is subscribing to the offering a good choice? Let’s take a closer look.

Happy Forgings IPO Opens Today Is Subscribing to the Offering a Good Choice
Happy Forgings IPO Opens Today Is Subscribing to the Offering a Good Choice

About Happy Forgings

Established in July 1979, Happy Forgings has grown to become a leading player in the industry. With three manufacturing facilities in Ludhiana, Punjab, the company has gained expertise in producing a wide range of products, including crankshafts, front axle carriers, steering knuckles, and more.

Happy Forgings serves a global clientele, exporting its products to countries like Brazil, Italy, Japan, Spain, and the United States. The company’s commitment to quality and customer satisfaction has contributed to its success and reputation in the market.

The IPO Details

In preparation for the IPO, Happy Forgings successfully raised Rs 302.60 crore by allocating shares to anchor investors at Rs 850 apiece. The company has set aside 50% of the issue for qualified institutional bidders (QIBs), with 35% reserved for retail investors and 15% for non-institutional investors.

The net proceeds from the IPO will be utilized for equipment and machinery purchases and to prepay outstanding borrowings. Happy Forgings plans to go public with the listing scheduled for December 27 on both BSE and NSE.

Expert Opinions

Several financial institutions have shared their views on the Happy Forgings IPO:

Conclusion

Considering the positive feedback from financial institutions and Happy Forgings’ strong presence in the industry, subscribing to the IPO seems like a good choice for investors looking for long-term opportunities. However, as with any investment, it is important to carefully evaluate your own financial goals and risk tolerance before making a decision.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investing in IPOs carries risks, and it is recommended to consult with a financial advisor before making any investment decisions.

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