Happy Forgings Limited IPO is set to launch on 19 December, 2023. The company initiated its business operations in 1979. The company manufactures heavy forgings and high precision machined components. The product portfolio at the firm includes front axle carriers, crankshafts, differential housings, steering knuckles, pinion shafts, transmission parts, suspension products etc. Client list of the company includes major names like Ashok Leyland India, AAM India Manufacturing Corporation Private Limited, Dana India, Bonfiglioli Transmission Private Limited, International tractors Limited, IBCC INdustries (India) LImited, Liebherr, JCB India Limited, Mahindra and Mahindra Limited, SML ISUZU Limited, Meritor HVS AB etc. Its manufacturing facility is located in Ludhiana. In all they have 3 facilities.
Happy Forgings Limited IPO DETAILS
Happy Forgings Limited IPO is set to launch on 19 December, 2023. The subscription timeline extends till 21 December, 2023. The size for the IPO is 1008.59 Crore Rs. Shares issued through fresh issue mode are worth Rs 400 Crore. Shares issued through offer for sale mode are worth Rs 608.59 Crore. The lot size is 17 shares and the price is 808 Rs to 850 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 2 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Happy Forgings Limited IPO
| IPO OPENING DATE | 19 December, 2023 |
| CLOSING DATE FOR IPO | 21 December, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 2 Rs. per share |
| IPO price band | 808 Rs. to 850 Rs. per share |
| LOT SIZE | 17 shares |
| MINIMUM ORDER QUANTITY | 17 shares |
| ISSUE SIZE | 1008.59 Crore Rs. |
| OFFER FOR SALE | 608.59 Crore Rs. |
| FRESH ISSUE | 400 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 27 December, 2023 |
Happy Forgings Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 19 December, 2023 |
| CLOSING DATE FOR IPO | 21 December, 2023 |
| IPO ALLOTMENT DATE | 22 December, 2023 |
| REFUNDS | 26 December, 2023 |
| DEMAT A/C CREDITED ON | 26 December, 2023 |
| IPO LISTING DATE | 27 December, 2023 |
Happy Forgings Limited IPO begins for subscription from 19 December, 2023. The IPO subscription would continue till 21 December, 2023. The allotment status for the shareholders who applied would come on 22 December, 2023. The refunds for the ones who did not get allotment would be initiated on 26 December, 2023. The DEMAT accounts of shareholders would be credited on 26 December, 2023. The listing of the company would be completed on 27 December, 2023.
Happy Forgings Limited IPO : Lead Managers
The lead managers are :
- Axis Capital Limited
- JM Financial Limited
- Motilal Oswal Investment Advisors Limited
- Equirus Capital Private Limited
The minimum lot size for the company is decided at 17 shares. This holding accounts to 14450 Rs.. The maximum lot size is decided at 221 shares. This amounts to 187850 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 17 shares | 14450 Rs. |
| Maximum | 221 shares | 187850 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- The IPO money will also be used for Purchasing Plant and Machinery.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 876 | 1129 | 1326 |
| Revenue | 590 | 866 | 1202 |
| PAT | 86 | 142 | 208 |
Happy Forgings Limited had an asset base of 876 Crore Rs in 2021 which increased to 1129 Crore Rs in 2022 and 1326 Crore Rs in 2023. The revenue of the firm was 590 Crore Rs in 2021, 866 Crore Rs in 2022 and 1202 Crore Rs in 2023. The profit of the firm was 86 Crore Rs in 2021, 142 Crore Rs in 2022 and 208 Crore rs in 2023.
PROS
- The product portfolio at the firm includes front axle carriers, crankshafts, differential housings, steering knuckles, pinion shafts, transmission parts, suspension products etc.
- Client list of the company includes major names like Ashok Leyland India, AAM India Manufacturing Corporation Private Limited, Dana India, Bonfiglioli Transmission Private Limited, International tractors Limited, IBCC INdustries (India) LImited, Liebherr, JCB India Limited, Mahindra and Mahindra Limited, SML ISUZU Limited, Meritor HVS AB etc.
- Its manufacturing facility is located in Ludhiana. In all they have 3 facilities.
CONS
- The company works in a highly competitive segment.
Happy Forgings Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Happy Forgings Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
