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Happy Forgings IPO is a book built issue of Rs 1,008.59 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to Rs 400.00 crores and offer for sale of 0.72 crore shares aggregating to Rs 608.59 crores.
Happy Forgings IPO bidding started from December 19, 2023 and ended on December 21, 2023. The allotment for Happy Forgings IPO was finalized on Friday, December 22, 2023. The shares got listed on BSE, NSE on December 27, 2023.
Happy Forgings IPO price band is set at ₹808 to ₹850 per share. The minimum lot size for an application is 17 Shares. The minimum amount of investment required by retail investors is ₹14,450. The minimum lot size investment for sNII is 14 lots (238 shares), amounting to ₹202,300, and for bNII, it is 70 lots (1,190 shares), amounting to ₹1,011,500.
Jm Financial Limited, Axis Capital Limited, Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers of the Happy Forgings IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Happy Forgings IPO RHP for detailed information.
IPO Date | December 19, 2023 to December 21, 2023 |
Listing Date | December 27, 2023 |
Face Value | ₹2 per share |
Price Band | ₹808 to ₹850 per share |
Lot Size | 17 Shares |
Total Issue Size | 11,865,802 shares (aggregating up to ₹1,008.59 Cr) |
Fresh Issue | 4,705,882 shares (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 | BSE, NSE |
Share holding post issue | 94,204,882 |
Happy Forgings IPO offers 11,865,801 shares. 2,373,160 (20.00%) to QIB, 1,779,870 (15.00%) to NII, 4,153,031 (35.00%) to RII and 3,559,740 (30.00%) to Anchor investors. 244,295 RIIs will receive minimum 17 shares and 2,492 (sNII) and 4,985 (bNII) will receive minimum 238 shares. (in case of oversubscription)
Investor Category | Shares Offered | Maximum Allottees |
---|---|---|
Anchor Investor Shares Offered | 3,559,740 (30.00%) | NA |
QIB Shares Offered | 2,373,160 (20.00%) | NA |
NII (HNI) Shares Offered | 1,779,870 (15.00%) | |
bNII > ₹10L | 1,186,580 (10.00%) | 4,985 |
sNII < ₹10L | 593,291 (5.00%) | 2,492 |
Retail Shares Offered | 4,153,031 (35.00%) | 244,295 |
Total Shares Offered | 11,865,801 (100%) |
Happy Forgings IPO raises Rs 302.58 crore from anchor investors. Happy Forgings IPO Anchor bid date is December 18, 2023. Happy Forgings IPO Anchor Investors list
Bid Date | December 18, 2023 |
Shares Offered | 3,559,740 |
Anchor Portion Size (In Cr.) | 302.58 |
Anchor lock-in period end date for 50% shares (30 Days) | January 21, 2024 |
Anchor lock-in period end date for remaining shares (90 Days) | March 21, 2024 |
Happy Forgings IPO opens on December 19, 2023, and closes on December 21, 2023.
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 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
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 |
Lot Size Calculator |
The promoters of the 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)
Share Holding Pre Issue | 88.24% |
Share Holding Post Issue | 78.60% |
Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.
The company manufactures, designs and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products and valve bodies for different industries and customers.
The company's customer base includes 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 others.
The company has served customers in various regions including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom and the United States of America.
Happy Forging Limited has three manufacturing facilities, two in Kanganwal and one in Dugri, all located in Ludhiana, Punjab. As of FY 2023, the operational revenue of the company has increased by 43.02%.
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 |
The market capitalization of Happy Forgings IPO is Rs 8007.42 Cr.
KPI | Values |
---|---|
ROE | 21.12% |
ROCE | 24.24% |
RoNW | 21.12% |
Pre IPO | Post IPO | |
---|---|---|
EPS (Rs) | 23.32 | |
P/E (x) | 36.45 | 33.56 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] HFL is a leading and largest critical, complex and precision machined components for varied industries. It supplied its products to renowned global OEMs. The company posted steady growth in its top and bottom lines. Based on FY24 annualized earnings the issue appears reasonably priced. Investors may consider parking funds for the medium to long term rewards. Read detail review...
The Happy Forgings IPO is subscribed 82.63 times on December 21, 2023 7:02:00 PM. The public issue subscribed 15.40 times in the retail category, 214.65 times in the QIB category, and 63.45 times in the NII category. Check Day by Day Subscription Details (Live Status)
Category | Subscription (times) |
---|---|
QIB | 214.65 |
NII | 63.45 |
bNII (bids above ₹10L) | 69.87 |
sNII (bids below ₹10L) | 50.61 |
Retail | 15.40 |
Total | 82.63 |
Total Application : 3,365,600 (13.78 times)
Listing Date | December 27, 2023 |
BSE Script Code | 544057 |
NSE Symbol | HAPPYFORGE |
ISIN | INE330T01021 |
Final Issue Price | ₹850 per share |
Price Details |
---|
Final Issue Price |
Open |
Low |
High |
Last Trade |
BSE |
---|
₹850.00 |
₹1,001.25 |
₹961.00 |
₹1,087.85 |
₹1,029.80 |
NSE |
---|
₹850.00 |
₹1,000.00 |
₹961.25 |
₹1,087.40 |
₹1,030.80 |
Happy Forgings Limited
B XXIX, 2254/1,
Kanganwal Road, P.O. Jugiana,
Ludhiana – 141 120,
Phone: +91 161 5217162
Email: complianceofficer@ha ppyforgingsltd.co.in
Website: http://www.happyforgingsltd.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: happyforgings.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Happy Forgings IPO is a main-board IPO of 11,865,802 equity shares of the face value of ₹2 aggregating up to ₹1,008.59 Crores. The issue is priced at ₹808 to ₹850 per share. The minimum order quantity is 17 Shares.
The IPO opens on December 19, 2023, and closes on December 21, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Happy Forgings IPO using UPI as a payment gateway. Zerodha customers can apply in Happy Forgings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Happy Forgings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Happy Forgings IPO opens on December 19, 2023 and closes on December 21, 2023.
Happy Forgings IPO lot size is 17 Shares, and the minimum amount required is ₹14,450.
You can apply in Happy Forgings IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Happy Forgings IPO will be done on Friday, December 22, 2023, and the allotted shares will be credited to your demat account by Tuesday, December 26, 2023. Check the Happy Forgings IPO allotment status.
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