Happy Forgings IPO allotment today: Here to Know about status checking

The IPO of Ludhiana-based Happy Forgings of worth Rs1,008.6 crore is culminated with an overall subscription of 82.04 times on December 21. The IPO shares are set to be listed on bourses -NSE and BSE on December 27, tentatively, after the finalisation of the allotment of shares on December 22.

Happy Forgings IPO allotment today: Here to Know about status checking

New Delhi: The IPO of a manufacturer of complex and safety-critical, heavy forged and high precision machined components is seen to be fully subscribed on December 19, the first day of the three-session bidding process that ends on December 21. It is scheduled to announce the basis of allotment most probably on Friday, December 22.

The IPO share prices were listed in the price band of Rs 808-850 per share with a lot size of 17 shares. The company aimed to raise a significant amount of Rs1,008.59 crore from its primary offering, which included a fresh shares sale of Rs 400 crore and an offer-for-sale [OFS] of up to 47,05,882 equity shares.

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The issue was overall subscribed with almost 82.04 times as the portion for qualified institutional bidders [QIBs] and was stunned 220.48 times, while the non-institutional investors' category was subscribed 62.17 times. The quota reserved for retail investors was subscribed 15.09 times during the bidding process. The company was heading to a premium of Rs 420-440 per share, suggesting a listing pop of 48-52 percent for the investors.

The listed IPO company was incorporated in july 1979 and is specialized in designing and manufacturing heavy forgings and high-precision machined components. JM Financial, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO, with Link Intime India serving as the registrar for the issue.

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Investors, who bid for the issue of Happy Forgings, can check the allotment status on the BSE website's IPO application check page. Check-in equity, under the issue type and select Happy Forgings Limited in the dropbox. Type the application number and at last add the PAN card number.

The allotment status can also be checked through the online portal of Link Intime India, the registrar to the issue. Visit the web portal of Kfin Tech and select the IPO of Happy Forgings in the dropbox. Enter the either PAN card number, application number or DP client ID as selected tab and hit 'search' to get the allotment status for your application.

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