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IPO Status: Listed [19th Dec 2023 to 21st Dec 2023]
Happy Forgings IPO, a Mainline IPO of ₹1008.59 Cr was launced on 19-12-2023 to 21-12-2023 and the shares got listed on BSE, NSE on 27-12-2023.
The public issue of Happy Forgings IPO (HAPPYFORGE,544057) was offered at ₹850.00 per share and the ipo was listed at ₹1000. It has delivered listing gain of 17.65%.
As the minimum lot size was 17 shares, the IPO has offered Rs 2550 per lot return on listing.
| IPO Issue Opening Date: | 19th Dec 2023 |
| IPO Issue Closing Date: | 21st Dec 2023 |
| IPO Issue Price: | ₹808.00-850.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹1008.59 Cr |
| Offer for Sale: | ₹608.59 Cr |
| Fresh Issue: | ₹400.00 Cr |
| Face Value: | ₹2 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 88.24% |
| Promoter Holding Post IPO: | 78.60% |
| Allotment Status: | Allotment Status |
| BSE Code: | 544057 |
| NSE Code: | HAPPYFORGE |
Get important updates regarding Happy Forgings IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 22nd Dec 2023 |
| Refunds Initiation* | 26th Dec 2023 |
| Credit of Shares to Demat* | 26th Dec 2023 |
| IPO Listing Date* | 27th Dec 2023 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹808.00-850.00 |
| Market Lot: | 17 Shares |
| 1 Lot Amount: | ₹14450 |
| Min Small HNI Lots(2-10 Lakh): | 238 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 1190 shares (70 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 27-12-2023 | 850.00 | 235 | 3000/42000 | ₹1085 (27.65%) | 27-Dec-2023 6:03 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Happy Forgings is the 4th largest engineering-led manufacturer of complex and safety-critical, heavy forged, and high-precision machined components in India in terms of capacity.
Its product portfolio includes forged and machined products like crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products, and more.
The company caters to both the domestic as well as global original equipment manufacturers. In manufactures auto components, farm equipment, off-highway vehicles, industrial components, power generating machinery, and machinery for railways, oil and gas, and wind turbine industries.
In fiscal 2023, it has received Rs 10,669.49 million with 43.65% revenue being derived from the automotive sector and the remaining 56.35% of revenue was received from non-automotive sector.
Its 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, and more.
As of March 31, 2023, the firm serves customers across 9 countries including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom and the USA.
It has 3 manufacturing facilities with 2 units at Kanganwal in Ludhiana, Punjab, and one at Dugri in Ludhiana, Punjab with an annual aggregated installed capacity for forging and machining was 107,000 MT and 46,100 MT respectively.
| Incorporation | Sector | IPO Issue Size | Website |
| 1979 | Manufacturing | ₹1008.59 Cr | http://www.happyforgingsltd.com/ |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 2,373,160 (28.57%) | 1,779,870 (21.43%) | 4,153,031 (50%) | 8,306,061 | |
| 1 | 19th Dec 2023 19:04 | 0.01x | 3.68x | 3.17x | 2.38x |
| 2 | 20th Dec 2023 19:04 | 0.44x | 16.94x | 7.87x | 7.69x |
| 3 | 21st Dec 2023 19:04 | 214.65x | 63.45x | 15.40x | 82.63x |
Happy Forgings Limited's revenue increased by 38.81% and profit after tax (PAT) rose by 46.67% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,489.80 | 1,326.17 | 1,129.87 | 876.38 |
| Revenue | 675.73 | 1,202.27 | 866.11 | 590.81 |
| Profit After Tax | 119.30 | 208.70 | 142.29 | 86.45 |
| Net Worth | 1,103.33 | 988.31 | 787.62 | 645.16 |
| Reserves and Surplus | 1,088.25 | 978.66 | 769.72 | 636.21 |
| Total Borrowing | 258.97 | 218.52 | 240.35 | 153.47 |
| Amount in ₹ Crore | ||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| ‘Happy Forgings Limited | 23.32 | 23.32 | 110.43 | 21.12 | Consolidated | |
| Bharat Forge Limited | 11.35 | 11.35 | 144.02 | 102.63 | 7.88 | Consolidated |
| Craftsman Automation Limited | 117.56 | 117.56 | 651.68 | 43.92 | 18.04 | Consolidated |
| Ramkrishna Forgings Limited | 15.52 | 15.43 | 82.67 | 49.36 | 18.77 | Consolidated |
| Sona BLW Precision Forgings Limited | 6.76 | 6.75 | 39.12 | 85.56 | 17.26 | Consolidated |
Last Updated on 31-Dec-2023 06:02:44
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Happy Forgings IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Happy Forgings IPO with Zerodha.
Alternate approch to apply in Happy Forgings IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Happy Forgings IPO Review and Important Updates
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To subscribe or apply in Happy Forgings IPO, you can use the following methods:
| Happy Forgings IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Happy Forgings IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Happy Forgings IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Happy Forgings IPO. Most of the Syndicate Banks provide access to apply in Happy Forgings IPO via ASBA process. You must have your net banking access, DP ID information to apply in Happy Forgings IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Happy Forgings IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Happy Forgings IPO Review and Important Updates
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Applying in Happy Forgings IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Happy Forgings IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Happy Forgings IPO, please refer article >> Link
Happy Forgings IPO Review and Important Updates
Steps to download the online application form for Happy Forgings IPO
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Happy Forgings IPO is going to be list on 27-12-2023. NSE Code for Happy Forgings is HAPPYFORGE. BSE Code for Happy Forgings is 544057.
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Happy Forgings IPO Allotment Date is 22-12-2023.
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Happy Forgings IPO share allotment date?Happy Forgings IPO allotment date?
