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Happy Forgings IPO Share Allotment Status: Listing scheduled for December 27. Notably, market sources indicate a robust unlisted market premium of Rs 435 for Happy Forgings IPO shares.
The process of share allotment for the Happy Forgings IPO is expected to be completed today. In an IPO, when the number of shares applied for exceeds the number of shares available, a lottery system is often employed to fairly allocate shares among investors. This means that investors receive shares through a random selection process, akin to a lottery.
To check the allotment status of the Happy Forgings IPO on BSE (Bombay Stock Exchange), investors can follow these steps:
- Visit the BSE Website: Go to the official website of the Bombay Stock Exchange at www.bseindia.com.
- Navigate to the IPO Section: Look for the “IPO” section on the BSE website. This section is typically located in the main menu or on the homepage.
- Select the IPO Allotment Status: Within the IPO section, you should find a link or option related to “IPO Allotment Status” or a similar phrase. Click on that link.
- Choose the IPO Name: Look for the specific IPO name, in this case, “Happy Forgings,” from the list of recent or ongoing IPOs.
- Enter Application Details: Enter the required details such as the application number or PAN (Permanent Account Number) to check the allotment status. This information is usually available on the acknowledgment slip provided during the IPO application.
- View Allotment Status: After entering the necessary details, the system will display the allotment status, indicating the number of shares allotted or if the application was unsuccessful.
Alternatively, investors can also check the IPO allotment status on the registrar’s website. The registrar is responsible for managing the IPO application process and allotment. Investors can visit the registrar’s website and follow similar steps by entering the required details.
It’s important to note that the allotment status is typically available a few days after the closure of the IPO subscription period. Investors are advised to stay updated through official channels and not rely on unofficial sources for such crucial information.
Happy Forgings Grey Market Premium
As of the latest information, Happy Forgings is anticipated to be listed on the exchanges on December 27. Market sources suggest that the company’s shares are trading in the unlisted market with a premium of Rs 435.
This indicates a positive demand and perceived value for Happy Forgings shares even before their official listing. Investors and market participants will be closely watching the listing day to see how the stock performs in the open market.
Anticipating the upper price band of Rs 500, the stock is expected to debut with a premium of 51%, provided current trends persist.
Happy Forgings Initial Public Offering subscription
Happy Forgings IPO subscribed 82.04 times at close, driven by strong institutional interest. Retail investors subscribed 15 times, and Non-Institutional Investors (NIIs) subscribed 62 times. The Qualified Institutional Buyer (QIB) portion oversubscribed at 220 times.
Happy Forgings is described as an engineering-led manufacturer specializing in the production of safety-critical, heavy forged, and high-precision machined components. This suggests that the company focuses on manufacturing components that are crucial for safety applications, particularly in industries where precision and durability are paramount.
The emphasis on heavy forging indicates a capability to produce robust and sturdy components for various applications. Additionally, the high-precision machining aspect suggests a focus on intricate and accurate manufacturing processes.
Happy Forgings specializes in manufacturing a diverse range of forged and machined products, including crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets, and valve bodies.
These components cater to various industries, reflecting a broad customer base. The company’s product portfolio spans across sectors, showcasing a commitment to serving a diversified range of customers in different industries.
The net proceeds from the IPO of Happy Forgings are intended to be utilized for the purchase of equipment, plant and machinery, prepayment of debt, and other general corporate purposes.
For the six months ending September 2023, Happy Forgings reported revenues of Rs 600 crore, with a profit of Rs 116 crore. In the fiscal year 2023, the company experienced a notable growth, with revenues increasing by 39% to Rs 1,196 crore and profits jumping by 47% to Rs 209 crore.
These financial figures suggest a positive trend in the company’s performance, indicating growth in both revenue and profitability over the specified periods.
Over the financial years 2021 to 2023, Happy Forgings demonstrated strong financial performance with impressive Compound Annual Growth Rates (CAGR):
- Revenue: CAGR of 43%
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): CAGR of 47%
- PAT (Profit After Tax): CAGR of 55%
Additionally, the Return on Capital Employed (RoCE) showed a positive trend, improving from 14% in FY21 to 22% in FY23. This improvement in RoCE reflects the company’s ability to generate higher returns on its capital employed, which is a positive indicator of operational efficiency and effective capital utilization. These growth rates and improved financial ratios suggest a robust and expanding financial performance for Happy Forgings during the specified period.
