Happy Forgings IPO is expected to have a strong listing, with the grey market indicating a premium of ₹400 per share. Happy Forgings, a manufacturer of heavy forgings and high-precision machined components, is set to make its stock market debut on Wednesday (December 27).
Happy Forgings IPO GMP today: According to various websites that track unregulated market activities, Happy Forgings IPO GMP stood in the range of Rs 420-435 on the upper price band of Rs 850., Markets News, Times Now
Happy Forgings IPO GMP: The issue, which closes on December 21, comprises a fresh equity issue of Rs 400 crore and an offer for sale (OFS) of 71.59 lakh shares. Under the OFS, promoter Paritosh Kumar Garg will offload 49.22 lakh shares and investor India Business Excellence Fund will sell 22.37 lakh shares.
Incorporated in July 1979, Happy Forgings is an Indian manufacturer, specialising in designing and manufacturing heavy forgings and high-precision machined components.
Happy Forgings IPO: Analysts say the IPO gives a worthy option for investors seeking exposure to the manufacturing sector. The impressive track record and promising outlook of the company are additional bonuses that come with investing in this issue. "On the valuation front, we believe that the company is fairly priced. Thus, we recommend a subscribe for long-term rating to the IPO," said Anand Rathi.