Monitoring agency report for the quarter ended 31st March 2026

HAPPYFORGE · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+1.1%1-day move

₹1345.00

prior close

₹1335.20

base price

In-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.0+0.0+0.0+0.2+1.1+5.4+7.3+7.4+4.6+2.6+3.3+2.5+13.3—

Up moveDown movePending

AI summary

Happy Forgings Limited received its Q4 FY2026 monitoring agency report from ICRA Limited for the IPO that closed in December 2023. The IPO raised INR 1,008.59 crore (net proceeds of INR 377.82 crore). All three objects have been fully completed: equipment/plant purchase (INR 171.13 crore), prepayment of borrowings (INR 152.76 crore), and general corporate purposes (INR 53.94 crore). The equipment purchase had a 12-month delay but is now complete. ICRA confirmed no deviations from the offer document, no material changes to financing means, and no unfavorable events affecting project viability. The Audit Committee and Board had no comments on the report.

Likely market impact

Positive for investors - the IPO proceeds have been fully and appropriately deployed as promised in the offer document with no deviations, indicating the company has honored its commitment to use IPO funds as disclosed.