Happy Forgings IPO listing date today. GMP, experts signal up to 30% gain | Stock Market News (2024)

Happy Forgings IPO: Listing date for the initial public offering (IPO) of Happy Forgings Limited has been fixed on 27th December 2023 i.e. today. As per the information available on BSE website, Happy Forgings shares will list on BSE and NES in special pre open session during Wednesday deals at Indian stock market.

"Trading Members of the Exchange are hereby informed that effective from Wednesday, December 27, 2023, the equity shares of Happy Forgings Limited shall be listed and admitted to dealings on the Exchange in the list of 'B ' Group of Securities," BSE notice says.

According to stock market experts, Happy Forgings IPO received strong response by investors and stock market sentiments are also condusive for positive listing of shares. They said that Happy Forgings share price may have a positive listing and an allottee may expect 25 per cent to 30 per cent premium.

Meanwhile, grey market sentiments are also signaling positive Happy Forgings IPO listing. According to stock market observers, Happy Forgings share price is quoting at a premium of ₹285 in grey market today.

"We believe that this strong listing can be attributable to the company’s consistent performance and growth which can be seen in the revenue and EBITDA growth over the past three years. The company is a leading player in the domestic crankshaft manufacturing industry and has the second-largest production capacity for CV and industrial crankshafts. With the global forging and Indian crankshaft markets expected to grow at CAGR of 5.2% and 8.3%, respectively, we believe that the company’s increasing focus on producing market-accretive value-added products provides an opportunistic environment for the company," Parth Shah added.

Speaking on Happy Forgings IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "Looking at some recent listings, it seems that primary market is losing its sheen and hence I am expecting a little lower than the return expected by majority of the market experts. I strongly believe that Happy forgings IPO listing may take place at a premium of ₹180 to ₹205. This means, Happy Forgings IPO listing price will be in ₹1,030 to ₹1,055 range. So, an allottee can expect up to 25 per cent listing gain from Happy Forgings IPO listing."

Hence, both grey market and stock market experts are expecting that Happy Forgings IPO listing may take place at a premium of 25 per cent to 30 per cent.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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First Published:

27 Dec 2023, 10:34 AM IST