Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO).
The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18.
The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder.
Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS.
Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers.
Investors can bid for a minimum of 17 equity shares and in multiple
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