Happy Forgings IPO Review

 
Happy Forgings IPO Review

IPO Open Date: December 19, 2023

IPO Close Date: December 21, 2023

IPO Price: ₹808 to ₹850 per share

Lot Size: 17 Shares

Listing: December 27, 2023

Happy Forgings is scheduled to hit the market on December 19 , 2023 and close on December 21, 2023. Happy Forgings plans to raise around ₹1,008.59 Cr through an IPO with a sale of up to 11,865,802 equity shares of ₹2 each. The Retail offered 33%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Established in July 1979, Happy Forgings Limited is a prominent Indian manufacturer that specializes in the design and production of heavy forgings and high-precision machined components.

The company is actively engaged in the manufacturing, designing, and testing of a diverse range of products. These include crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies. Happy Forgings serves various industries, catering to a broad spectrum of clients with its quality-driven and versatile product offerings.

Happy Forgings


Happy Forgings IPO Details

Happy Forgings IPO opens on Dec 19 , 2023, and closes on Dec 21 , 2023. The Listing date for Happy Forgings IPO is on Dec 27, 2023. The price band for IPO is ₹808 to ₹850 per share and lot size of 17 Shares.

IPO DateDec 19 , 2023 to Dec 21, 2023
Listing DateDec 27, 2023
Price₹808 to ₹850 per share
Lot Size17 Shares
Issue Size₹1,008.59 Cr
Face Value₹2 per share

Happy Forgings IPO Tentative Timetable

Happy Forgings opening date is December 19, 2023 and close date is December 21, 2023. The IPO allotment date is December 22, 2023. The refund initiation of IPO is on December 23, 2023. The credit of shares in demat account is on December 23, 2023. The listing date is on December 27 , 2023.

EventDate
IPO OpeningDec 19, 2023
IPO ClosingDec 21, 2023
IPO Allotment DateDec 22, 2023
Refund InitiationDec 23, 2023
Shares Credit to DematDec 23, 2023
Lisiting DateDec 27, 2023

Happy Forgings IPO Lot Size

Lot Size of this IPO is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹187,850).

CategoryLotsSharesAmount
Retail(Minimum)117₹14,450
Retail(Maximum)13221₹187,850
S-HNI (Minimum)14238₹202,300
B-HNI (Minimum)701190₹1,011,500

Happy Forgings IPO Promoter Holding

Pre Issue Share Holding88.24%
Post Issue Share Holding78.60%

Happy Forgings IPO Review

Happy Forgings Limited, with a robust presence in Ludhiana, Punjab, stands out as a prominent player in the forging industry. The company boasts a diverse clientele that includes major names such as Ashok Leyland Limited, JCB India Limited, Mahindra & Mahindra Limited, and more, not only in India but also in international markets like Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America.

The three manufacturing facilities in Kanganwal and Dugri underscore the company's commitment to operational excellence. The financial performance of Happy Forgings Limited reflects a commendable 43.02% increase in operational revenue as of FY 2023. The Restated Consolidated Financials for the fiscal year ending March 31, 2023, highlight a substantial growth trajectory, with revenue surging by 38.81%, and profit after tax witnessing a notable rise of 46.67%.

Key financial indicators, including a Price-to-Earnings (P/E) ratio of 36.45, Return on Equity (ROE) of 21.12%, Return on Capital Employed (ROCE) of 24.24%, Earnings Per Share (EPS) at ₹23.32, and Return on Net Worth (RoNW) of 21.12%, provide valuable insights for potential investors. A comprehensive IPO review would delve into the company's competitive positioning, growth strategies, and the effective utilization of funds from the IPO.

Happy Forgings IPO Subscription Status (Bidding Details)

No IPO ID provided. Check if the "ipo-subscription" field is set for this post.

Happy Forgings IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Happy Forgings IPO FAQs

What is Happy Forgings IPO?

Happy Forgings is issuing 11,865,802 equity shares with a face value of ₹2 each, totaling up to ₹1,008.59 Cr. The shares are being offered at a price of ₹808 to ₹850 each, with a minimum order quantity of 17 shares.

Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Happy Forgings IPO will open?

Happy Forgings will open on December 19 , 2023 for QIB, NII, and Retail Investors.

When Happy Forgings IPO will end?

Happy Forgings will end on December 21, 2023.

What is Happy Forgings IPO Size?

Happy Forgings IPO size is ₹1,008.59 Cr.

What is Happy Forgings IPO Price Band?

Happy Forgings price band is ₹808 to ₹850 per share.

What is the Happy Forgings IPO Allotment Date?

Happy Forgings allotment date is December 22, 2023.

What is the Happy Forgings IPO Listing Date?

Happy Forgings listing date is December 27, 2023. The IPO is to be listed on BSE and NSE.

How to Apply Happy Forgings IPO through Zerodha?

To apply for the IPO “Happy Forgings” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Happy Forgings IPO through Upstox?

To apply for the IPO “Happy Forgings” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Happy Forgings IPO Allotment Status?

For Happy Forgings IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Happy Forgings IPO GMP?

You can check out here: Happy Forgings IPO GMP

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I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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