Happy Forgings IPO vs Inox CVA IPO

Comparision between Happy Forgings IPO and Inox CVA IPO.

IPO Details

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

	Happy Forgings IPO	Inox CVA 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	Jm Financial Limited Axis Capital Limited Equirus Capital Private Limited Motilal Oswal Investment Advisors Limited	ICICI Securities Limited Axis Capital Limited
Registrar	Link Intime India Private Ltd	Kfin Technologies Limited
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 Happy Forgings IPO is up to ₹1,008.59 Cr whereas the issue size of the Inox CVA IPO is up to ₹1,459.32 Cr. The final issue price of Happy Forgings IPO is ₹850.00 per share and of Inox CVA IPO is ₹660.00 per share.

	Happy Forgings IPO	Inox CVA IPO
Face Value	₹2 per share	₹2 per share
Issue Price (Lower)	₹808.00 per share	₹627.00 per share
Issue Price (Upper)	₹850.00 per share	₹660.00 per share
Issue Price (Final)	₹850.00 per share	₹660.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	17 shares	22 shares
Fresh Issue Size	47,05,882 shares
Fresh Issue Size (Amount)	up to ₹400.00 Cr
OFS Issue Size	71,59,920 shares	2,21,10,955 shares
OFS Issue Size (Amount)	up to ₹608.59 Cr	up to ₹1,459.32 Cr
Issue Size Total	1,18,65,802 shares	2,21,10,955 shares
Issue Size Total (Amount)	up to ₹1,008.59 Cr	up to ₹1,459.32 Cr

IPO Timetable

Happy Forgings IPO opens on Dec 19, 2023, while Inox CVA IPO opens on Dec 14, 2023. The closing date of Happy Forgings IPO and Inox CVA IPO is Dec 21, 2023, and Dec 18, 2023, respectively.

	Happy Forgings IPO	Inox CVA IPO
Anchor Bid Date	Dec 18, 2023	Dec 13, 2023
Issue Open	Dec 19, 2023	Dec 14, 2023
Issue Close	Dec 21, 2023	Dec 18, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 19, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 20, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 20, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 21, 2023
Anchor Lockin End date 1	Jan 21, 2024	Jan 18, 2024
Anchor Lockin End date 2	Mar 21, 2024	Mar 18, 2024

Financials

Happy Forgings IPO P/E ratio is 36.45, as compared to Inox CVA IPO P/E ratio of 39.22.

Happy Forgings IPO

Inox CVA IPO

Financial

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

Inox India Limited Financial Information (Restated Consolidated)

Inox India Limited's revenue increased by 22.46% and profit after tax (PAT) rose by 17.02% 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	1,155.81	1,148.36	896.75	687.20
Revenue	580.00	984.20	803.71	608.99
Profit After Tax	103.34	152.71	130.50	96.11
Net Worth	554.24	549.48	502.28	371.51
Reserves and Surplus
Total Borrowing	31.03		43.38	60.37
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

88.24%

99.30%

Promoter Shareholding (Post-Issue)

78.60%

75.46%

P/E Ratio

36.45

39.22

Market Cap

₹8007.42 Cr.

₹5990.39 Cr.

ROE

21.12%%

27.79%%

ROCE

24.24%%

36.53%%

Debt/Equity

EPS

₹23.32

₹16.83

RoNW

21.12%%

27.79%%

Shares Offered

In the Happy Forgings IPO retail investors (RII) are offered 41,53,031 shares while in Inox CVA IPO retail investors are offered 41,53,031 shares. Qualified institutional buyers (QIB) are offered 23,73,160 shares in Happy Forgings IPO and 44,22,191 shares in Inox CVA IPO.

	Happy Forgings IPO	Inox CVA IPO
Anchor Investor Reserveration	35,59,740 shares	66,33,285 shares
Market Maker Reserveration
QIB	23,73,160 shares	44,22,191 shares
NII	17,79,870 shares	33,16,644 shares
RII	41,53,031 shares	77,38,835 shares
Employee	0 shares	0 shares
Others
Total	83,06,061 shares	1,54,77,670 shares

Bids Received (Subscription)

Happy Forgings IPO subscribed 82.63x in total, whereas Inox CVA IPO subscribed 61.28x.

	Happy Forgings IPO	Inox CVA IPO
QIB (times)	214.65x	147.80x
NII (times)	63.45x	53.20x
Big NII (times)	69.87x	56.55x
Small NII (times)	50.61x	46.52x
RII (times)	15.40x	15.30x
Employee (times)
Other (times)
Total (times)	82.63x	61.28x

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