Happy Forgings IPO Price: ₹808 - ₹850
IPO Date Range: Dec 19, 2023 - Dec 21, 2023
Established in July 1979, Happy Forgings Limited is an Indian manufacturer that specializes in crafting heavy forgings and high-precision machined components.
The company specializes in crafting, designing, and rigorously testing a diverse range of products. These include crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension components, and valve bodies, tailored for various industries and clientele.
Operating from three state-of-the-art manufacturing facilities, with two situated in Kanganwal and one in Dugri, all strategically located in Ludhiana, Punjab, Happy Forging Limited has witnessed an impressive 43.02% surge in operational revenue as of FY 2023.
Among its esteemed clients are a roster of industry leaders, including AAM India Manufacturing Corporation Private Limited, Ashok Leyland Limited, Bonfiglioli Transmissions Private Limited, Dana India, IBCC Industries (India) Private Limited, International Tractors Limited, JCB India Limited, Liebherr CMCtec India Private Limited, Mahindra & Mahindra Limited, Meritor HVS AB, Meritor Heavy Vehicle Systems Cameri SPA, SML ISUZU Limited, and Swaraj Engines Limited, alongside others.
Having catered to a global clientele, the company has proudly served customers across diverse regions, spanning Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America.
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹808 to ₹850 per share |
| Lot Size | 17 shares |
| Total Issue Size | . shares (aggregating up to ₹1008.59 Cr) |
| Fresh Issue | . shares (aggregating up to ₹400.00 Cr) |
| Offer For Sale | 7,159,920 shares (aggregating up to ₹608.59 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 89,499,000 |
Investors have the option to bid for a minimum of 17 shares and any multiple thereof. The table below outlines the minimum and maximum investment for retail investors and HNIs in both shares and monetary terms.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,450 |
| Retail (Max) | 13 | 221 | ₹187,850 |
| S-HNI (Min) | 14 | 238 | ₹202,300 |
| S-HNI (Max) | 67 | 1173 | ₹997,050 |
| B-HNI (Min) | 68 | 1190 | ₹1,011,500 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
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Between March 31, 2022, and March 31, 2023, Happy Forgings Limited witnessed a notable 38.81% surge in revenue, coupled with a substantial 46.67% rise in profit after tax (PAT).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 876.38 | 1129.87 | 1326.17 | 1489.80 |
| Revenue | 590.81 | 866.11 | 1202.27 | 675.73 |
| Profit After Tax | 86.45 | 142.29 | 280.70 | 119.30 |
| Net Worth | 645.16 | 787.62 | 988.31 | 1103.33 |
| Reserves & Surplus | 636.21 | 769.72 | 978.66 | 1088.25 |
| Total Borrowings | 153.47 | 240.35 | 218.52 | 258.97 |
| KPI | Values |
|---|---|
| P/E (x) | 36.45 |
| ROE | 21.12% |
| ROCE | 24.24% |
| EPS (Rs) | 23.32 |
| RoNW | 21.12% |
The company intends to utilize the Net Proceeds from the Fresh Issue for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Happy Forgings IPO DRHP and Happy Forgings IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Happy Forgings Limited" IPO is ₹808 to ₹850 per share.
The "Happy Forgings Limited" IPO is expected to be listed on Wednesday, 27 December 2023.
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