The Happy Forgings IPO date has been confirmed from December 19, 2023 and closes on December 21, 2023.
Using an IPO, Happy Forgings is seeking to raise Rs 400.00 crore. Its 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.
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Bidding Dates
December 19-21
Price Range
₹808 to ₹850 per share
Face Value
₹2 per share
GMP
₹235
Happy Forgings IPO GMP
The Happy Forgings Limited IPO GMP is ₹235.
IPO Overview
Happy Forgings is India’s fourth-largest engineering-driven manufacturer of sophisticated and safety-critical heavy forged and extremely precise machined components. The company’s vertically integrated operations include engineering, process design, testing, production, and component supply. Its principal clients are original equipment manufacturers (OEMs) in the commercial vehicle manufacturing sector, both nationally and globally. In addition to supplying automotive OEMs, it also serves makers of farm equipment, off-highway vehicles, and industrial equipment and machinery for industries such as oil and gas, power generation, railways, and wind turbines.
As of March 31, 2023, the company’s services were available to consumers in nine countries: Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America. Happy Forgings has significantly boosted its yearly aggregate installed capacity for forging and machining with three strategically positioned manufacturing sites, two in Kanganwal and one in Dugri, both in Ludhiana, Punjab. This capacity has increased from 67,000 MT and 29,500 MT on March 31, 2021 to an astounding 107,000 MT and 46,100 MT on March 31, 2023.
Happy Forgings IPO Details
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | [.] shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 7,159,920 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 89,499,000 |
Happy Forgings Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 584.96 | 860.05 | 1,196.53 |
| Expenses | 473.75 | 674.06 | 922.25 |
| Net income | 86.45 | 142.29 | 208.70 |
| Margin (%) | 14.78 | 16.54 | 17.44 |
Happy Forgings IPO Dates & Listing Performance
| 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 |
Company Profile
Happy Forgings is a prominent supplier to each of the top five Indian OEMs in the medium and heavy commercial vehicle industry in terms of market share. It also serves four of the top five Indian farm equipment OEMs in terms of market share. Long-term client connections are impressive, with customers who have been with the company for more than a decade providing 75.98%, 79.38%, and 80.67% of revenue from product sales in Fiscal 2023, 2022, and 2021, respectively.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 022 4918 6060 |
| Email ID | happyforgings.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | HAPPY FORGINGS LIMITED |
| Phone number | +91 161 5217162 |
| Email ID | complianceofficer@happyforgingsltd.co.in |
| Website | happyforgingsltd.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
