Key Points
The Rs 1,009-crore initial public offering (IPO) of Happy Forgings opened for subscription on Tuesday..
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 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...
The impressive track record and promising outlook of the company are additional bonuses that come with investing in this issue...
"We recommend subscribing to the IPO, given the long-term opportunities in global forgings and machining, expansion of exports, and strong financials," said Incred Equities...
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