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. Happy Forgings is commanding a GMP of Rs 435 in the grey market.
The initial public offer (IPO) of Happy Forgings was subscribed 5.03 times so far on the second day of the bidding process on Wednesday. The categories reserved for retail investors and NIIs were subscribed 5.7 times and 9.78 times, respectively. There was just a 6% subscription in the QIB portion.
Get insights into the Happy Forgings IPO opening today. Explore whether you should subscribe to this issue and stay ahead with key details on Happy Forgings IPO at news18.com
Happy Forgings IPO opens from today; Should you invest? financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
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.