Monitoring agency report for the quarter ended 31st March 2026

HAPPYFORGE · price

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▲ 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

₹1335.50

base price

In-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.0+0.1-0.0+0.2+1.1+5.4+7.3+7.4+4.6+2.6+3.3+2.5+13.3—

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AI summary

ICRA Limited has submitted the final monitoring agency report for Happy Forgings Limited's IPO proceeds for Q4 FY2026. The IPO, which opened in December 2023, raised INR 1,008.59 crore (net proceeds of INR 377.82 crore). All three objects of the issue have been fully utilized: equipment purchase (INR 171.13 crore), debt prepayment (INR 152.76 crore), and general corporate purpose (INR 53.94 crore). No deviations were observed from the disclosed objects, and no unfavorable events affecting viability were noted. The equipment purchase was completed with a 12-month delay but is now fully deployed. No comments were raised by the Audit Committee or Board of Directors.

Likely market impact

Positive signal for investors - the IPO proceeds have been fully and appropriately deployed as per the offer document, with no deviations or concerns flagged by the monitoring agency or the company's board.