Happy Forgings IPO vs Muthoot Microfin IPO

Comparision between Happy Forgings IPO and Muthoot Microfin IPO.

IPO Details

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

	Happy Forgings IPO	Muthoot Microfin 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 Jm Financial Limited SBI Capital Markets 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 Muthoot Microfin IPO is up to ₹960.00 Cr. The final issue price of Happy Forgings IPO is ₹850.00 per share and of Muthoot Microfin IPO is ₹291.00 per share.

	Happy Forgings IPO	Muthoot Microfin IPO
Face Value	₹2 per share	₹10 per share
Issue Price (Lower)	₹808.00 per share	₹277.00 per share
Issue Price (Upper)	₹850.00 per share	₹291.00 per share
Issue Price (Final)	₹850.00 per share	₹291.00 per share
Discount (Retail)
Discount (Employee)		₹14.00 per share
Market Lot Size	17 shares	51 shares
Fresh Issue Size	47,05,882 shares	2,61,16,838 shares
Fresh Issue Size (Amount)	up to ₹400.00 Cr	up to ₹760.00 Cr
OFS Issue Size	71,59,920 shares	68,72,852 shares
OFS Issue Size (Amount)	up to ₹608.59 Cr	up to ₹200.00 Cr
Issue Size Total	1,18,65,802 shares	3,29,89,690 shares
Issue Size Total (Amount)	up to ₹1,008.59 Cr	up to ₹960.00 Cr

IPO Timetable

Happy Forgings IPO opens on Dec 19, 2023, while Muthoot Microfin IPO opens on Dec 18, 2023. The closing date of Happy Forgings IPO and Muthoot Microfin IPO is Dec 21, 2023, and Dec 20, 2023, respectively.

	Happy Forgings IPO	Muthoot Microfin IPO
Anchor Bid Date	Dec 18, 2023	Dec 15, 2023
Issue Open	Dec 19, 2023	Dec 18, 2023
Issue Close	Dec 21, 2023	Dec 20, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 21, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 22, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 22, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 26, 2023
Anchor Lockin End date 1	Jan 21, 2024	Jan 20, 2024
Anchor Lockin End date 2	Mar 21, 2024	Mar 20, 2024

Financials

Happy Forgings IPO P/E ratio is 36.45, as compared to Muthoot Microfin IPO P/E ratio of 24.96.

Happy Forgings IPO

Muthoot Microfin 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

Muthoot Microfin Limited Financial Information (Restated)

Muthoot Microfin Limited's revenue increased by 71.58% and profit after tax (PAT) rose by 245.77% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	8,529.20	5,591.46	4,183.85
Revenue	1,446.34	842.94	696.28
Profit After Tax	163.89	47.40	7.05
Net Worth	1,625.85	1,336.58	889.89
Reserves and Surplus	1,282.15	1,040.10	642.84
Total Borrowing	6,493.18	3,996.61	3,015.66
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

88.24%

69.08%

Promoter Shareholding (Post-Issue)

78.60%

55.47%

P/E Ratio

36.45

24.96

Market Cap

₹8007.42 Cr.

₹4960.82 Cr.

ROE

21.12%%

11.06%%

ROCE

24.24%%

Debt/Equity

3.99

EPS

₹23.32

₹11.98

RoNW

21.12%%

10.08%%

Shares Offered

In the Happy Forgings IPO retail investors (RII) are offered 41,53,031 shares while in Muthoot Microfin IPO retail investors are offered 41,53,031 shares. Qualified institutional buyers (QIB) are offered 23,73,160 shares in Happy Forgings IPO and 65,29,210 shares in Muthoot Microfin IPO.

	Happy Forgings IPO	Muthoot Microfin IPO
Anchor Investor Reserveration	35,59,740 shares	97,93,812 shares
Market Maker Reserveration
QIB	23,73,160 shares	65,29,210 shares
NII	17,79,870 shares	48,96,907 shares
RII	41,53,031 shares	1,14,26,117 shares
Employee	0 shares	0 shares
Others
Total	83,06,061 shares	2,28,52,234 shares

Bids Received (Subscription)

Happy Forgings IPO subscribed 82.63x in total, whereas Muthoot Microfin IPO subscribed 12.30x.

	Happy Forgings IPO	Muthoot Microfin IPO
QIB (times)	214.65x	18.35x
NII (times)	63.45x	13.87x
Big NII (times)	69.87x	12.96x
Small NII (times)	50.61x	15.69x
RII (times)	15.40x	8.00x
Employee (times)
Other (times)
Total (times)	82.63x	12.30x

Compare with others

Happy Forgings IPO	Muthoot Microfin IPO
Inox CVA IPO	Suraj Estate Developers IPO
Suraj Estate Developers IPO	RBZ Jewellers IPO
RBZ Jewellers IPO	Motisons Jewellers IPO
Motisons Jewellers IPO	Mukka Proteins IPO
Mukka Proteins IPO	Happy Forgings IPO
Muthoot Microfin IPO	DOMS IPO
DOMS IPO	Allied Blenders IPO
Allied Blenders IPO	Flair Writing IPO
Flair Writing IPO	IREDA IPO
IREDA IPO	Fedbank Financial Services IPO

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