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.
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.