Flair Writing IPO vs Happy Forgings IPO

Comparision between Flair Writing IPO and Happy Forgings IPO.

IPO Details

Flair Writing IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Happy Forgings IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Flair Writing IPO	Happy Forgings IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Nuvama Wealth Management Limited Axis Capital Limited	Jm Financial Limited Axis Capital Limited Equirus Capital Private Limited Motilal Oswal Investment Advisors Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Flair Writing IPO is up to ₹593.00 Cr whereas the issue size of the Happy Forgings IPO is up to ₹1,008.59 Cr. The final issue price of Flair Writing IPO is ₹304.00 per share and of Happy Forgings IPO is ₹850.00 per share.

	Flair Writing IPO	Happy Forgings IPO
Face Value	₹5 per share	₹2 per share
Issue Price (Lower)	₹288.00 per share	₹808.00 per share
Issue Price (Upper)	₹304.00 per share	₹850.00 per share
Issue Price (Final)	₹304.00 per share	₹850.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	49 shares	17 shares
Fresh Issue Size	96,05,263 shares	47,05,882 shares
Fresh Issue Size (Amount)	up to ₹292.00 Cr	up to ₹400.00 Cr
OFS Issue Size	99,01,315 shares	71,59,920 shares
OFS Issue Size (Amount)	up to ₹301.00 Cr	up to ₹608.59 Cr
Issue Size Total	1,95,06,578 shares	1,18,65,802 shares
Issue Size Total (Amount)	up to ₹593.00 Cr	up to ₹1,008.59 Cr

IPO Timetable

Flair Writing IPO opens on Nov 22, 2023, while Happy Forgings IPO opens on Dec 19, 2023. The closing date of Flair Writing IPO and Happy Forgings IPO is Nov 24, 2023, and Dec 21, 2023, respectively.

	Flair Writing IPO	Happy Forgings IPO
Anchor Bid Date	Nov 21, 2023	Dec 18, 2023
Issue Open	Nov 22, 2023	Dec 19, 2023
Issue Close	Nov 24, 2023	Dec 21, 2023
Basis Of Allotment (Tentative)	Nov 29, 2023	Dec 22, 2023
Initiation of Refunds (Tentative)	Nov 30, 2023	Dec 26, 2023
Credit of Share (Tentative)	Nov 30, 2023	Dec 26, 2023
Listing date (Tentative)	Dec 01, 2023	Dec 27, 2023
Anchor Lockin End date 1	Dec 29, 2023	Jan 21, 2024
Anchor Lockin End date 2	Feb 27, 2024	Mar 21, 2024

Financials

Flair Writing IPO P/E ratio is 23.36, as compared to Happy Forgings IPO P/E ratio of 36.45.

Flair Writing IPO

Happy Forgings IPO

Financial

Flair Writing Industries Limited Financial Information (Restated Consolidated)

Flair Writing Industries Limited's revenue increased by 62.39% and profit after tax (PAT) rose by 114.14% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	765.04	684.18	557.49	480.66
Revenue	248.50	954.29	587.64	310.87
Profit After Tax	32.14	118.10	55.15	0.99
Net Worth	470.16	437.99	319.86	264.65
Reserves and Surplus	423.46	391.29	296.50	241.31
Total Borrowing	126.67	115.59	126.33	130.31
Amount in ₹ Crore

Happy Forgings Limited Financial Information (Restated Standalone)

Happy Forgings Limited's revenue increased by 38.81% and profit after tax (PAT) rose by 46.67% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,489.80	1,326.17	1,129.87	876.38
Revenue	675.73	1,202.27	866.11	590.81
Profit After Tax	119.30	208.70	142.29	86.45
Net Worth	1,103.33	988.31	787.62	645.16
Reserves and Surplus	1,088.25	978.66	769.72	636.21
Total Borrowing	258.97	218.52	240.35	153.47
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

97.49%

88.24%

Promoter Shareholding (Post-Issue)

79.21%

78.60%

P/E Ratio

23.36

36.45

Market Cap

₹3204.00 Cr.

₹8007.42 Cr.

ROE

31.17%%

21.12%%

ROCE

31.24%%

24.24%%

Debt/Equity

0.26

EPS

₹12.33

₹23.32

RoNW

31.17%%

21.12%%

Shares Offered

In the Flair Writing IPO retail investors (RII) are offered 68,27,302 shares while in Happy Forgings IPO retail investors are offered 68,27,302 shares. Qualified institutional buyers (QIB) are offered 39,01,316 shares in Flair Writing IPO and 23,73,160 shares in Happy Forgings IPO.

	Flair Writing IPO	Happy Forgings IPO
Anchor Investor Reserveration	58,51,972 shares	35,59,740 shares
Market Maker Reserveration
QIB	39,01,316 shares	23,73,160 shares
NII	29,25,987 shares	17,79,870 shares
RII	68,27,302 shares	41,53,031 shares
Employee	0 shares	0 shares
Others
Total	1,36,54,605 shares	83,06,061 shares

Bids Received (Subscription)

Flair Writing IPO subscribed 49.28x in total, whereas Happy Forgings IPO subscribed 82.63x.

	Flair Writing IPO	Happy Forgings IPO
QIB (times)	122.02x	214.65x
NII (times)	35.23x	63.45x
Big NII (times)	36.53x	69.87x
Small NII (times)	32.61x	50.61x
RII (times)	13.73x	15.40x
Employee (times)
Other (times)
Total (times)	49.28x	82.63x

Compare with others

Flair Writing IPO	Happy Forgings IPO
Mukka Proteins IPO	Inox CVA IPO
Happy Forgings IPO	Suraj Estate Developers IPO
Muthoot Microfin IPO	RBZ Jewellers IPO
DOMS IPO	Motisons Jewellers IPO
Allied Blenders IPO	Mukka Proteins IPO
IREDA IPO	Muthoot Microfin IPO
Fedbank Financial Services IPO	DOMS IPO
Gandhar Oil Refinery India IPO	Allied Blenders IPO
ASK Automotive IPO	Flair Writing IPO
ESAF Small Finance Bank IPO	IREDA IPO

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