Happy Forgings Limited has completed the allotment of 22,540 equity shares to its employees under the Employee Stock Options Scheme (ESOP) on March 13, 2026. The shares were allotted pursuant to the exercise of options under the company's established employee stock options program.

Share Capital Enhancement

The allotment has resulted in an increase in the company's paid-up share capital structure. The following table shows the capital changes:

Corporate Communication

The company has formally notified both BSE Limited and National Stock Exchange of India Limited about this allotment. The communication was signed by Bindu Garg, Company Secretary & Compliance Officer, ensuring proper regulatory compliance and transparency.

Employee Participation Benefits

The ESOP allotment represents the company's ongoing commitment to employee participation in ownership. By allowing employees to exercise their stock options, Happy Forgings Limited continues to align employee interests with shareholder value creation. The allotment of 22,540 shares demonstrates active participation by employees in the company's equity structure.

Regulatory Compliance

Happy Forgings Limited has maintained proper disclosure standards by informing the stock exchanges about this corporate action. The company operates from its registered office in Ludhiana, Punjab, and continues to follow established procedures for employee stock option exercises and related capital structure changes.

Happy forgings Limited has received a regulatory disclosure from India Business Excellence Fund III regarding the complete disposal of its equity stake in the company. The fund disposed of 39,10,097 equity shares through a series of open market transactions spanning over eight months.

Transaction Details

The disposal was executed in multiple tranches between June 17, 2025 and February 12, 2026. The disclosure obligation under Regulation 29(2) of the SEBI Takeover Regulations was triggered when the fund disposed of 26,86,704 equity shares on February 12, 2026, which breached the 2% threshold requirement.

Shareholding Changes

The fund's complete exit resulted in a significant change in its shareholding position in Happy Forgings Limited. Prior to these transactions, India Business Excellence Fund III held a notable stake in the company.

Company Share Capital Structure

Happy Forgings Limited maintains a stable equity share capital structure throughout this disposal period. The company's total equity share capital remained unchanged at 9,43,27,920 equity shares with a face value of INR 2 per share, amounting to INR 18,86,55,840.

Fund Background

India Business Excellence Fund III operates as a scheme of Business Excellence Trust III, with MO Alternate Investment Advisors Private Limited serving as its investment manager. The fund confirmed that it does not belong to the promoter or promoter group of Happy Forgings Limited. The disclosure was signed by Bharat Kedia, Chief Operating Officer, on behalf of the fund from Mumbai on February 12, 2026.

Regulatory Compliance

The disclosure was filed with both BSE Limited (Scrip Code: 544057) and National Stock Exchange of India Limited (Symbol: HAPPYFORGE) in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The fund maintained transparency throughout the disposal process by providing detailed transaction information to all relevant stakeholders.