Happy Forgings IPO allotment status to be announced soon, here’s how to check it

The recently concluded initial public offering (IPO) of Happy Forgings garnered significant attention from investors, with the allotment status expected to be finalised today, December 22. Those who participated in the bidding process can verify their allotment status through the official websites of the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), and the IPO registrar, Link Intime India Private Ltd.

Upon accessing the Link Intime India website, applicants can ascertain their allotment status by selecting the Happy Forgings Limited option and entering relevant details such as application number, demat account, or PAN. Similarly, the IPO allotment status can be checked on BSE's official website by specifying the equity issue type, selecting Happy Forgings Limited, and entering the PAN or application number.

Happy Forgings is scheduled to commence the refund process for unsuccessful applicants, while successful allottees will witness their shares credited to their demat accounts by December 26. The company's shares are slated for listing on both BSE and NSE on December 27.

Market indications suggest a strong grey market premium (GMP) for Happy Forgings shares, currently pegged at Rs 406 per share. This implies that the shares are trading at a substantial premium of 47.76 per cent to the issue price, translating to an estimated listing price of Rs 1,256 per share.

The Happy Forgings Rs 1,008.59 crore IPO comprised a fresh issue of 47 lakh equity shares amounting to Rs 400 crore and an offer for sale (OFS) of 72 lakh shares totalling Rs 608.59 crore. The public issue witnessed robust subscription levels, with an overall subscription rate of 82.63 times.

Specifically, the retail segment was subscribed 15.40 times, while the Qualified Institutional Buyers (QIB) category saw an overwhelming subscription of 214.65 times. Non-Institutional Investors (NII) also displayed substantial interest, with a subscription rate of 63.45 times.