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Happy Forgings Ltd

Castings, Forgings & Fastners

Offer Period :

19th to 21st Dec 2023

Established in July 1979, Happy Forgings Limited, based in Ludhiana, Punjab, specializes in heavy forgings and high-precision machined components. Serving diverse industries, its products include crankshafts, axle carriers, and transmission parts. Read more... With a global customer base, the company's three manufacturing facilities have contributed to a 43.02% increase in operational revenue as of FY 2023.Read less

Happy Forgings Ltd IPO Details

IPO Date 19th to 21st Dec 2023 Minimum Investment ₹14450 / 1 Lots
Listing Date 2023-12-27 Maximum Investment ₹187850 / 13 Lots
Face Value ₹2 per share Total Issue Size ₹1008.59 Crores
Price ₹850 to ₹850 per share Fresh Issue ₹400 Crores
Lot Size 1 Lots (17 Shares) Offer For Sale ₹ 608.59
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 19th to 21st Dec 2023
Listing Date 2023-12-27
Face Value ₹2 per share
Price ₹850 to ₹850 per share
Lot Size 1 Lots (17 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹14450 / 1 Lots
Maximum Investment ₹187850 / 13 Lots
Total Issue Size ₹1008.59 Crores
Fresh Issue ₹400 Crores
Offer For Sale
Retail Discount ₹ 0

Timeline

Important dates for allocation and IPO listing.

19th Dec

IPO Starts

21st Dec

IPO Ends

22nd Dec

Allotment Date

26th Dec

Initiation of Refund

26th Dec

Credit of Shares to Demat Account

27th Dec

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 88.24 78.61
Public Group 11.76 21.39

Happy Forgings Ltd IPO Reservation

QIB Shares Offered 2373160(20%)
NII (HNI) Shares Offered 1779870(15%)
Retail Shares Offered 4153031(35%)
Anchor Investor Shares Offered 3559741(30%)
Total Shares Offered 11865802
Total Shares With Anchor Investor 11865802

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Happy Forgings Ltd IPO Registrar

Link Intime India Pvt Ltd
Phone Number + 91 810 811 4949
Email Id happyforgings.ipo@linkintime.co.in
Our Website www.linkintime.co.in

Happy Forgings Ltd IPO Lead Manager

1. JM Financial Ltd

2. Axis Capital Ltd

3. Equirus Capital Pvt Ltd

4. Motilal Oswal Investment Advisors Ltd

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Happy Forgings Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of Happy Forgings Ltd

1. Fourth largest engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India.

2. Integrated manufacturing operations coupled with in-house product and process design capabilities resulting in a diverse product portfolio with increasing value addition.

3. Diversified business model, well placed to take advantage of potential alternative engine technologies.

4. Long-standing relationships with customers across industries.

5. Track record of consistently building capabilities and infrastructure, with focus on capital efficiency.

6. Experienced Promoters and senior management team.

7. Track record of healthy financial performance.

Risks Involved

1. The company's business largely depends upon its top 10 customers which contributed 70.08%, 74.64% and 79.22% in Fiscal 2023, 2022 and 2021. The loss of any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.

2. The company does not have firm commitment agreements with its customers. If the company customers choose not to source their requirements from it, there may be a material adverse effect on its business, financial condition,cash flows and results of operations.

3. The company's business is dependent on the performance of certain industries particularly commercial vehicles, farm equipment and off-highway vehicles both in the Indian and overseas markets. Any adverse changes in the conditions affecting these industries can adversely impact its business, results of operations, cash flows and financial condition.

4. The company is subject to strict performance requirements, including, but not limited to, quality and delivery, by its customers, and any failure by it to comply with these performance requirements may lead to the cancellation of existing and future orders, recalls or warranty and liability claims.

5. The company's business and profitability is substantially dependent on the availability and cost of its steel, the company primary raw material and any disruption to the timely and adequate supply of steel, or volatility in the prices of Steel may adversely impact its business, results of operations, cash flows and financial condition.

6. The company is export its products to various countries including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, United Kingdom and United States of America. Any adverse events affecting these countries could have an adverse impact on its results from operations.

7. The company derives a substantial portion of its revenue from the sale of crankshafts and loss of sales due to reduction in demand for crankshafts would have a material adverse effect on its business, financial condition, results of operations and cash flows.

8. The company manufacturing facilities are subject to operating risks. Any shutdown of its manufacturing facilities of the company existing or future manufacturing facilities or other production problems caused by unforeseen events may reduce sales and adversely affect its business, cash flows, results of operations and financial condition.

9. All of its three manufacturing facilities are located in Ludhiana, Punjab which exposes the company operations to potential risks arising from local and regional factors such as adverse social and political events, weather conditions and natural disasters.

10. The company operations involve activities and materials which are hazardous in nature and could result in a suspension of operations and/or the imposition of civil or criminal liabilities which could adversely affect its business, results of operations, cash flow and financial condition.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023 2022
Total Assets 1885.95 1326.16 1129.87
Total Liabilities 1885.95 1326.16 1129.87
Total Expenses 1047.2 922.25 674.06
Total Revenue 
1371.59 1202.27 866.1
Profit After Tax 242.98 208.7 142.29
EBITDA 400.89 346.68 236.95
Adjusted EBITDA 0 0 0

Happy Forgings Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2023-12-27 544057 HAPPYFORGE
INE330T01021
₹850 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹850 ₹850
Open ₹1001.25 ₹1000
Low ₹961 ₹961.25
High ₹1087.85 ₹1087.4
Low ₹961 ₹961.25

Frequently Asked Questions

What is Happy Forgings Ltd IPO?

Answer Field

Happy Forgings Ltd IPO is a Mainboard IPO of 1,18,65,802 equity shares of a face value of ₹2 aggregating up to ₹1008.59 Crores. The issue is priced at ₹850 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 Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Happy Forgings Ltd IPO will open?

Answer Field

The Happy Forgings Ltd IPO opens on December 19, 2023 and closes on December 21, 2023.

What is the lot size of Happy Forgings Ltd?

Answer Field

Happy Forgings Ltd lot size is 17 shares, and the minimum amount required is ₹14,450.

How to apply for Happy Forgings Ltd IPO?

Answer Field

You can apply in Happy Forgings Ltd 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. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Happy Forgings Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Happy Forgings Ltd IPO will be done on December 22, 2023, and the allotted shares will be credited to your demat account by December 26, 2023.

When is Happy Forgings Ltd IPO listing date?

Answer Field

The Happy Forgings Ltd listing date is December 27, 2023.

Who is the registrar of Happy Forgings Ltd IPO?

Answer Field

The registrar of Happy Forgings Ltd IPO is Link Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

JM Financial Ltd,Axis Capital Ltd,Equirus Capital Pvt Ltd,Motilal Oswal Investment Advisors Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Happy Forgings Ltd IPO?

Answer Field

The fresh issue size is ₹400 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Happy Forgings Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 17 shares and ₹14,450 amount.

How can I approve the UPI mandate request for Happy Forgings Ltd IPO?

Answer Field

To apply for Happy Forgings Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Happy Forgings Ltd?

Answer Field

The price of each Happy Forgings Ltd share will be ranging in between ₹850 to ₹850 per share.

What is the cut-off time for the UPI mandate for Happy Forgings Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, December 21, 2023.

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