Happy Forgings IPO Details ( Happy Forgings Limited IPO Review )
(19 Dec 2023 – 21 Dec 2023)
Happy Forgings Limited, founded in July 1979, is an Indian company that specializes in making heavy forgings and high-precision machined parts.
We manufacture, design, and test different products like crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension items, and valve bodies. Our customers come from various industries, and some of them include 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, Swaraj Engines Limited, and more.
We’ve been proud to serve customers in different parts of the world, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America.
Happy Forging Limited operates from three manufacturing facilities, with two in Kanganwal and one in Dugri, all situated in Ludhiana, Punjab. In the fiscal year 2023, our company’s operational revenue has seen a significant increase of 43.02%.
Happy Forgings Limited IPO Competitive Strength
- Fourth largest engineering led manufacturer of complex and safety critical, heavy forged and high precision mahined components in India
- Integrated manufacturing operations coupled with in-house product and process design capabilities resulting in a diverse product portfolio with continuous value addition
- Diversified business model, well placed to take advantage of potential alternative engine technologies
- Long-standing relationship with customers across industries
- Track record of consistently building capabilities and infrastructure, with focus on capital efficiency
- Experienced Promoters and senior management team
- Track record of healthy financial performance
Happy Forgings IPO Financials Performance ( Results )
Happy Forgings Limited Financial Information (Restated Standalone)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 876.38 | 590.81 | 86.45 | 9.66 | 645.16 | 636.21 | 153.47 |
| 31-Mar-22 | 1,129.87 | 866.11 | 142.29 | 15.90 | 787.62 | 769.72 | 240.35 |
| 31-Mar-23 | 1,326.17 | 1,202.27 | 208.70 | 23.32 | 988.31 | 978.66 | 218.52 |
| 30-Sep-23 | 1,489.80 | 675.73 | 119.30 | 13.33 | 1,103.33 | 1,088.25 | 258.97 |
Objective of Happy Forgings IPO Issue
- Purchase of equipment, plant and machinery.
- Prepayment of all or a portion of certain outstanding borrowings availed by the Company and
- General corporate purposes.
Happy Forgings IPO Basic Details
| IPO Date | Dec 19, 2023 to Dec 21, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Face Value | ₹2 per share |
| Price | ₹808 to ₹850 per share |
| Lot Size | 17 Shares |
| Issue Size | 11,865,802 shares of ₹2 (aggregating up to ₹1,008.59 Cr) |
| Fresh Issue | 4,705,882 shares of ₹2 (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 7,159,920 shares of ₹2 (aggregating up to ₹608.59 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 89,499,000 |
| Share holding post issue | 94,204,882 |
| Company Promoters | Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF) |
Happy Forgings IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
Happy Forging IPO Timetable
Happy Forging IPO will open on December 19, 2023 and close on December 21, 2023. You can join Happy Forging IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 19 December 2023 (Tuesday) |
| Closing Date | 21 December 2023 (Thursday) |
| Basis of Allotment | 22 December 2023 (Friday) |
| Initiation of Refunds | 26 December 2023 (Tuesday) |
| Credit of Shares to Demat | 26 December 2023 (Tuesday) |
| Listing Date | 27 December 2023 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on 21 December 2023 |
Happy Forgings IPO Lot Size
For retail investors in Happy Forgings IPO, 17 shares will come in 1 lot or the minimum investment will be ₹14,450. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹187,850.
| 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) | 69 | 1,173 | ₹997,050 |
| B-HNI (Min) | 70 | 1,190 | ₹1,011,500 |
Happy Forgings IPO Promoter Holding
The company’s promoters include Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF).
| Pre Issue Share Holding | 88.24% |
| Post Issue Share Holding | 78.60% |
Happy Forgings Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 8007.42 |
| Earning Per Share (EPS) | ₹23.32 per Equity Share |
| Net Asset Value (NAV) | ₹110.43 per Equity Share |
| P/E Ratio (P/E) (x) | 36.45 |
| Post P/E Ratio (P/E) (x) | 33.56 |
| Return on Net Worth (RoNW) (%) | 21.12 |
| Return on equity (ROE) (%) | 21.12 |
| Return on Capital Employed (ROCE) (%) | 24.24 |
| Debt/Equity Ratio | Coming Soon |
Happy Forgings Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | Face Value | CPM (₹) | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| Happy Forgings Limited | Consolidated | 2.00 | 850.00 | 23.32 | 33.56 | 21.12 | 110.43 |
| Peer Group | |||||||
| Bharat Forge Limited | Consolidated | 2.00 | 1,164.85 | 11.35 | 102.63 | 7.88 | 144.02 |
| Craftsman Automation Limited | Consolidated | 5.00 | 5,163.75 | 117.56 | 43.92 | 18.04 | 651.68 |
| Ramkrishna Forgings Limited | Consolidated | 2.00 | 761.65 | 15.43 | 49.36 | 18.77 | 82.67 |
| Sona BLW Precision Forgings Limited | Consolidated | 10.00 | 577.50 | 6.75 | 85.56 | 17.26 | 39.12 |
Happy Forgings IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹435 | – | – |
| 20 December 2023 | ₹430 | – | – |
| 19 December 2023 | ₹430 | – | – |
| 18 December 2023 | ₹400 | – | – |
Happy Forgings IPO Detail Video:
Happy Forgings IPO Subscription Status (Bidding Detail)
The Happy Forgings IPO on December 21, 2023 at 7:30:00 PM was subscribed 82.63 times, with the retail category being subscribed 15.40 times, the NII (Non-Institutional Investor) category being subscribed 63.45 times, QIB (Qualified-Institutional Buyers) category being subscribed 214.65 times.
| Category | Subscription |
| QIB | 214.65x |
| NII | 63.45x |
| Retail | 15.40x |
| Total | 82.63x |
Happy Forgings IPO Prospectus
| Happy Forgings IPO DRHP | Download |
| Happy Forgings IPO RHP | Download |
| Happy Forgings IPO Anchor Investors Details PDF | Download |
Happy Forgings IPO Rating
| Our Rating | 3.5/5.0 |
Happy Forgings Company Contact Information
Happy Forgings Limited
Corporate Identity Number: U28910PB1979PLC004008
Website: www.happyforgingsltd.com
Registered Office: B XXIX, 2254/1, Kanganwal Road, P.O. Jugiana, Ludhiana – 141 120, Punjab, India
Corporate Office: H.B 220, Post Office – Rajgarh, Village Dugri, Ludhiana– 141 421, Punjab, India
Contact Person: Bindu Garg, Company Secretary and Compliance Officer
Telephone: +91 161 5217162
Email: complianceofficer@happyforgingsltd.co.in
The Promoters of Our Company Are Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (Huf) and Ashish Garg & Sons (Huf)
Happy Forgings IPO Registrar
Link Intime India Private Limited
Registered Office: C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg Vikhroli (West), Mumbai – 400083, Maharashtra, India
Telephone: + 91 810 811 4949
E-mail: happyforgings.ipo@linkintime.co.in
Investor Grievance E-mail: happyforgings.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No: INR000004058
Happy Forgings IPO Lead Manager
JM Financial Limited
Registered Office: 7th Floor, Cnergy Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India
Telephone: +91 22 6630 3030
E-mail: hfl.ipo@jmfl.com
Investor Grievance E-mail: grievance.ibd@jmfl.com
Website: www.jmfl.com
Contact person: Prachee Dhuri
SEBI Registration No.: INM000010361
Axis Capital Limited
Registered Office: 1st Floor, Axis House C-2, Wadia International Centre, P.B. Marg, Worli, Mumbai 400 025, Maharashtra, India
Telephone: + 91 22 4325 2183
E-mail: hfl.ipo@axiscap.in
Investor Grievance E-mail: complaints@axiscap.in
Website: www.axiscapital.co.in
Contact person: Jigar Jain
SEBI Registration No.: INM000012029
Equirus Capital Private Limited
Registered Office: 12th Floor, C Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India
Telephone: + 91 22 4332 0734
E-mail: hfl.ipo@equirus.com
Investor Grievance E-mail: investorsgrievance@equirus.com
Website: www.equirus.com
Contact person: Mrunal Jadhav
SEBI Registration No.: INM000011286
Motilal Oswal Investment Advisors Limited
Registered Office: Motilal Oswal Tower, Rahimtullah, Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai – 400 025, Maharashtra, India
Telephone: + 91 22 7193 4380
E-mail: hfl.ipo@motilaloswal.com
Investor Grievance E-mail: moiaplredressal@motilaloswal.com
Website: www.motilaloswalgroup.com
Contact person: Ritu Sharma
SEBI Registration No.: INM000011005
Happy Forgings IPO FAQs
What is the lot size of Happy Forgings IPO?
The total size of Happy Forgings IPO is ₹1,008.59 crores out of which ₹400.00 crores is fresh issue and ₹608.59 crores is offer for sale (OFS).
When will Happy Forgings IPO start?
Happy Forgings IPO will open from 19 December 2023 and IPO will close on 21 December 2023.
What is the open date of Happy Forgings IPO?
Happy Forgings IPO will open date from 19 December 2023.
What is the last date ( close date ) of Happy Forgings IPO?
Happy Forgings IPO will close from 21 December 2023.
What is the price band of Happy Forgings IPO?
Happy Forgings IPO price band is ₹808 to ₹850. ( Upper Price Band: ₹850, Lower Price Band: ₹808 )
What is the minimum amount required to apply for Happy Forgings IPO?
The minimum investment for retailers to apply for Happy Forgings IPO is ₹14,450 and the maximum investment is ₹187,850.
What is going on gray market premium of Happy Forgings IPO?
View gray market premium of Happy Forgings IPO by Clicking Here
How much is the GMP of Happy Forgings IPO?
Watch Happy Forgings IPO GMP Today: Click Here
What is the allotment date of Happy Forgings IPO?
The allotment date of Happy Forgings IPO is 22 December 2023.
How to check allotment status in Happy Forgings IPO?
To check the allotment status of Happy Forgings IPO, first of all go to the registrar website by clicking here, select your bad Happy Forgings IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Happy Forgings IPO?
The listing date of Happy Forgings IPO is 27 December 2023.
How much will be the listing gain in Happy Forgings IPO?
View listing gain of Happy Forgings IPO by Clicking Here
How much time Happy Forgings IPO is subscribed?
Total 82.63 times subscribed in Happy Forgings IPO out of which 15.40 times subscription was done in retail quota, 63.45 times subscription in NII quota and 214.65 times subscription in QIB quota.
How to apply for Happy Forgings IPO from Upstox?
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How to apply for Happy Forgings PO from Zerodha?
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How to apply for Happy Forgings IPO from Angle One?
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