What you must know about Happy Forgings IPO?
by 5paisa Research Team
14 Dec 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 27-Dec-23
- IPO Price Range ₹808
- Listing Price ₹1001.25
- Listing Change 17.8 %
- Last Traded Price ₹1074.95
- Current Change 26.5 %
Happy Forgings IPO Details
- Open Date 19-Dec-23
- Close Date 21-Dec-23
- Lot Size 17
- IPO Size -
- IPO Price Range ₹ 808 to ₹ 850
- Min Investment ₹ 13,736
- Listing Exchange BSE, NSE
- Basis of Allotment 22-Dec-23
- Refunds 26-Dec-23
- Credit to Demat Account 26-Dec-23
- Listing Date 27-Dec-23
Happy Forgings IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-Dec-23 | 0.01 | 3.68 | 3.16 | 2.37 |
| 20-Dec-23 | 0.44 | 16.92 | 7.80 | 7.65 |
| 21-Dec-23 | 214.65 | 63.45 | 15.40 | 82.63 |
Happy Forgings IPO Synopsis
Happy Forgings Limited IPO is all set to open from 19th December to 21st December 2023. The company is in the business of making complex and safety critical, heavy forged and high precision machined components and ranks fourth in this segment in India. The IPO includes a fresh issue worth ₹400 cr and an Offer-for-Sale (OFS) of 7,159,920 shares worth ₹608.59 cr. The total IPO size is ₹1008.59 cr. The share allotment date is 22nd December, and the IPO will be listed on 27th December on the stock exchanges. The price band is ₹808 to ₹850 per share and the lot size is 17 shares.
JM Financial Limit, Axis Capital Limited, Equirus Capital Private Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Happy Forgings IPO:
● To fund the purchase of equipment, plant and machinery.
● Prepayment of the debt borrowed by the company.
● General corporate purpose.
Happy Forgings IPO Video:
About Happy Forgings
Established in 1979, Happy Forgings Limited is in the business of making complex and safety critical, heavy forged and high precision machined components and ranks fourth in this segment in India as of FY23. With years of experience, the company has become a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicles and high horse-power industrial crankshafts in India. It also enjoys the highest EBITDA margin among its peers for FY23 and FY22.
The company engineers, designs, tests, manufactures, and supplies components to Indian and global original equipment manufacturers (OEMs) in different industries including automotive. Apart from these the OEMs also include manufacturers of farm equipment, off-highway vehicles, industrial equipment and machinery for oil and gas, power generation, railways, and wind turbines. It has three manufacturing units based in Ludhiana, India.
The main product line of Happy Forgings includes crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products and valve bodies. The company’s client base includes some renowned names like Manufacturing Corporation Private Limited, Ashok Leyland LimitedMahindra & Mahindra Limited, Swaraj Engines Limited, Same Deutz Fahr India Private Limited, Tata Cummins Private Limited, Watson & Chalin India Private Limited, and more.
Peer Comparison
● Bharat Forge Limited
● Craftsman Automation Limited
● Ramkrishna Forgings Limited
● Sona BLW Precision Forgings Limited
For More Information:
Happy Forgings IPO GMP
Webstory on Happy Forgings IPO
Know About Happy Forgings IPO
Happy Forgings Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1196.53 | 860.04 | 584.95 |
| EBITDA | 340.94 | 230.88 | 158.74 |
| PAT | 208.70 | 142.28 | 86.44 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 1326.16 | 1129.86 | 876.38 |
| Share Capital | 17.90 | 17.90 | 8.95 |
| Total Borrowings | 337.86 | 342.24 | 231.22 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 209.45 | 80.29 | 49.85 |
| Net cash from / (used in) investing activities | -172.45 | -165.68 | -58.68 |
| Net cash flow from / (used in) financing activities | -37.01 | 82.52 | 9.67 |
| Net increase (decrease) in cash and cash equivalents | -0.007 | -2.87 | 0.84 |
Happy Forgings IPO Key Points
-
Strengths
1. The company is the fourth largest engineering-led manufacturer of complex and safety critical, heavy forged and high precision machined components in India.
2. It has integrated manufacturing operations coupled with in-house product and process design capabilities.
3. The company has a diverse product portfolio with increasing value addition.
4. It has a diversified business model and is well-placed to take advantage of potential alternative engine technologies.
5. The company has built long-standing relationships with customers across industries.
6. It has a track record of consistently building capabilities and infrastructure, with a focus on capital efficiency.
7. Experienced promoters and management team.
-
Risks
1. The business is dependent on the performance of commercial vehicles, farm equipment and off-highway vehicles industries in India and abroad.
2. It has substantial capital expenditure and working capital requirements.
3. The business and its profitability are substantially dependent on the availability and cost of steel.
4. A substantial portion of the revenue is from the sale of crankshafts.
5. Exposed to counterparty credit risk.
6. Operates in a highly competitive industry.
7. It is subject to strict performance requirements for quality and delivery.
8. Exchange rate fluctuations can impact the business.
Happy Forgings
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
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
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Happy Forgings IPO FAQs
What is the minimum lot size and investment required for the Happy Forgings IPO?
The minimum lot size of Happy Forgings IPO is 17 shares and the investment required is ₹13,736.
What is the price band of Happy Forgings IPO?
The price band of Happy Forgings IPO is ₹808 to ₹850 per share.
When does the Happy Forgings IPO opens and closes?
The Happy Forgings IPO is open from 19th December to 21st December 2023.
What is the size of the Happy Forgings IPO?
The size of Happy Forgings IPO is around ₹1008.59 cr.
What is the allotment date of the Happy Forgings IPO?
The share allotment date of Happy Forgings IPO is 22nd of December 2023.
What is the Happy Forgings IPO listing date?
The Happy Forgings IPO will be listed on the 27th of December 2023.
Who are the book runners for the Happy Forgings IPO?
JM Financial Limit, Axis Capital Limited, Equirus Capital Private Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers for Happy Forgings IPO.
What is the objective of Happy Forgings IPO?
The fresh issue proceeds will be used by the company for:
● To fund the purchase of equipment, plant and machinery.
● Prepayment of the debt borrowed by the company.
● General corporate purpose.
How to apply for the Happy Forgings IPO?
To apply for Happy Forgings IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Happy Forgings IPO.
● 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.
Contact Details of Happy Forgings IPO
Contact Information
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/
Happy Forgings IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: happyforgings.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Happy Forgings IPO Lead Manager
Axis Capital Limited
Equirus Capital Private Limited
JM Financial Limited
Motilal Oswal Investment Advisors Limited
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