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Happy Forgings Limited

Live Updates, GMP, Subscription Data, and Financial Details

IPO Overview

Listed
Dates Dec 19 - Dec 21,2023
Price Band ₹808-850
Current GMP ₹1000 (17.65%)
Subscription 82.63 times

IPO Details

IPO Date
December 19, 2023 to December 21, 2023
Listing Date
Wednesday, December 27, 2023
Face Value
₹2 per share
Price Band
₹808 to ₹850 per share
Lot Size
17 Shares
Total Issue Size
11,865,802 shares (aggregating up to ₹1,008.59 Cr)
Fresh Issue
4,705,882 shares (aggregating up to ₹400.00 Cr)
Offer for Sale
7,159,920 shares of ₹2 (aggregating up to ₹608.59 Cr)
Issue Type
Book Built Issue IPO
Listing At
BSE, NSE
Share holding pre issue
89,499,000
Share holding post issue
94,204,882

IPO Subscription Details

Anchor Investors
1
Qualified Institutions
214.65
Non-Institutional Buyers
63.45
bNII (bids above ₹10L)
69.87
sNII (bids below ₹10L)
50.61
Retail Investors
15.40
Total **
82.63

Day Wise Sub

DayDay 1 Dec 19, 2023
QIB0.01
NII3.68
Retail3.17
Total2.38
DayDay 2 Dec 20, 2023
QIB0.44
NII16.94
Retail7.87
Total7.69
DayDay 3 Dec 21, 2023
QIB214.65
NII63.45
Retail15.40
Total82.63

Day Wise GMP

Date27-12-2023
Price850.00
GMP235 (27.65%)
Estimate List Price1085
Date26-12-2023
Price850.00
GMP235 (27.65%)
Estimate List Price1085
Date25-12-2023
Price850.00
GMP282 (33.18%)
Estimate List Price1132
Date24-12-2023
Price850.00
GMP300 (35.29%)
Estimate List Price1150
Date23-12-2023
Price850.00
GMP300 (35.29%)
Estimate List Price1150
Date22-12-2023
Price850.00
GMP416 (48.94%)
Estimate List Price1266
Date21-12-2023
Price850.00
GMP406 (47.76%)
Estimate List Price1256
Date20-12-2023
Price850.00
GMP435 (51.18%)
Estimate List Price1285
Date19-12-2023
Price850.00
GMP444 (52.24%)
Estimate List Price1294
Date18-12-2023
Price850.00
GMP430 (50.59%)
Estimate List Price1280
Date17-12-2023
Price850.00
GMP410 (48.24%)
Estimate List Price1260
Date16-12-2023
Price850.00
GMP420 (49.41%)
Estimate List Price1270
Date15-12-2023
Price850.00
GMP460 (54.12%)
Estimate List Price1310
Date14-12-2023
Price850.00
GMP460 (54.12%)
Estimate List Price1310
Date13-12-2023
PriceNA
GMP25 (%)
Estimate List Price25

IPO Important Dates

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

IPO Lot Size

ApplicationRetail (Min)
Lots1
Shares17
Amount₹14,450
ApplicationRetail (Max)
Lots13
Shares221
Amount₹187,850
ApplicationS-HNI (Min)
Lots14
Shares238
Amount₹202,300
ApplicationS-HNI (Max)
Lots69
Shares1,173
Amount₹997,050
ApplicationB-HNI (Min)
Lots70
Shares1,190
Amount₹1,011,500

Financial Information

Period EndedPeriod Ended
30 Sep 202330 Sep 2023
31 Mar 202331 Mar 2023
31 Mar 202231 Mar 2022
Period EndedAssets
30 Sep 20231,489.80
31 Mar 20231,326.17
31 Mar 20221,129.87
Period EndedRevenue
30 Sep 2023675.73
31 Mar 20231,202.27
31 Mar 2022866.11
Period EndedProfit After Tax
30 Sep 2023119.30
31 Mar 2023208.70
31 Mar 2022142.29
Period EndedNet Worth
30 Sep 20231,103.33
31 Mar 2023988.31
31 Mar 2022787.62
Period EndedReserves and Surplus
30 Sep 20231,088.25
31 Mar 2023978.66
31 Mar 2022769.72
Period EndedTotal Borrowing
30 Sep 2023258.97
31 Mar 2023218.52
31 Mar 2022240.35

Key Performance Indicator

P/E (x)
36.45
Post P/E (x)
33.56
Market Cap (₹ Cr.)
8007.42
ROE
21.12%
ROCE
24.24%
EPS (Rs)
23.32

IPO Reservation

Investor CategoryAnchor Investor Shares Offered
Shares Offered3,559,740 (30.00%)
Maximum AllotteesNA
Investor CategoryQIB Shares Offered
Shares Offered2,373,160 (20.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered1,779,870 (15.00%)
Maximum Allottees
Investor CategorybNII > ₹10L
Shares Offered1,186,580 (10.00%)
Maximum Allottees4,985
Investor CategorysNII < ₹10L
Shares Offered593,291 (5.00%)
Maximum Allottees2,492
Investor CategoryRetail Shares Offered
Shares Offered4,153,031 (35.00%)
Maximum Allottees244,295
Investor CategoryTotal Shares Offered
Shares Offered11,865,801 (100%)
Maximum Allottees

Information about company

Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. The company manufactures, designs and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products and valve bodies for different industries and customers. The company's customer base includes AAM India Manufacturing Corporation Private Limited, Ashok Leyland Limited, Bonfiglioli Transmissions Private Limited, Dana India, IBCC Industries (India) Private Limited, International Tractors Limited, JCB India Limited, Liebherr CMCtec India Private Limited, Mahindra & Mahindra Limited, Meritor HVS AB, Meritor Heavy Vehicle Systems Cameri SPA, SML ISUZU Limited, Swaraj Engines Limited and others. The company has served customers in various regions including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom and the United States of America. Happy Forging Limited has three manufacturing facilities, two in Kanganwal and one in Dugri, all located in Ludhiana, Punjab. As of FY 2023, the operational revenue of the company has increased by 43.02%.

Disclaimer

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