Happy Forgings IPO share allotment to be finalised today after strong subscription. Check status, GMP and listing date

The share allotment of Happy Forgings IPO is likely to be finalised today. Investors received shares on a lottery basis and the whole process was supervised by the registrar.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.

Step 1: Visit the BSE Website

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

Read more: RBZ Jewellers IPO allotment status: Here’s how you can check

Happy Forgings GMP

The company's shares are expected to get listed on the exchanges on December 27. According to market sources, Happy Forgings is trading with a premium of Rs 435 in the unlisted market.

Considering the upper price band of Rs 500, the stock is likely to debut with a premium of 51%, if the trends sustain.

Happy Forgings IPO subscription

The IPO of Happy Forgings was booked 82.04 times at close, led by institutional investors. The categories reserved for retail investors and NIIs were subscribed 15 times and 62 times, respectively. The QIB portion has been booked 220 times.

The company is an engineering-led manufacturer of safety critical, heavy forged and high precision machined components.

It makes a wide range of forged and machined products such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets and valve bodies across industries for a diversified base of customers.

The company proposes to utilise the net proceeds for purchase of equipment, plant and machinery, prepayment of debt and other general corporate purposes.

For the six months ended September 2023, the company clocked revenues of Rs 600 crore, while profit stood at Rs 116 crore. In FY23, revenues rose 39% to Rs 1196 crore and profit jumped 47% to Rs 209 crore.

During FY 21-23, its revenue, EBITDA and PAT clocked a CAGR of 43%, 47% and 55%, respectively. Meanwhile, RoCE improved from 14% in FY21 to 22% in FY23.

(You can now subscribe to our ETMarkets WhatsApp channel)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)