Last updated on December 28, 2023
Happy Forgings IPO Description – Happy Forgings stands tall as the fourth-largest engineering-driven manufacturer of intricate and safety-critical heavy forged and highly precise machined components in India. Through its vertically integrated operations, the company delves into engineering, process design, testing, manufacturing, and the supply of diverse components. Its primary clientele includes original equipment manufacturers (OEMs) in the commercial vehicle manufacturing sector, both domestically and globally. In addition to serving automotive OEMs, it extends its expertise to manufacturers of farm equipment, off-highway vehicles, as well as industrial equipment and machinery for sectors such as oil and gas, power generation, railways, and wind turbine industries.
Happy Forgings holds the distinction of being a key supplier to each of the top five Indian OEMs in the medium and heavy commercial vehicle industry, based on market share. It also caters to four of the top five Indian OEMs in the farm equipment industry by market share. Impressively, long-standing customer relationships are a hallmark, with customers associated for more than a decade contributing 75.98%, 79.38%, and 80.67% to revenues from product sales in Fiscal 2023, 2022, and 2021, respectively.
As of 31 March 2023, the company has extended its services to customers across nine countries, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America. With three strategically located manufacturing facilities, two in Kanganwal and one in Dugri, both in Ludhiana, Punjab, Happy Forgings has substantially increased its annual aggregate installed capacity for forging and machining. This capacity has surged from 67,000 MT and 29,500 MT as of 31 March 2021, to an impressive 107,000 MT and 46,100 MT as of 31 March 2023, respectively.
Promoters of Happy Forgings – Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF), and Ashish Garg & Sons (HUF)
Happy Forgings IPO Details
| Happy Forgings IPO Dates | 19 – 21 December 2023 |
| Happy Forgings IPO Price | INR 808 – 850 per share |
| Fresh issue | 4,705,882 shares (INR 380.24 – 400 crore) |
| Offer For Sale | 7,159,920 shares (INR 578.52 – 608.59 crore) |
| Total IPO size | 11,865,802 shares (INR 978.52 – 1,008.59 crore) |
| Minimum bid (lot size) | 17 shares (INR 14,450) |
| Face Value | INR 2 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
Happy Forgings Financial Performance
| Â | FY 2021* | FY 2022 | FY 2023 | H1 FY 2024* |
| Revenue | 584.96 | 860.05 | 1,196.53 | 672.90 |
| Expenses | 473.75 | 674.06 | 922.25 | 516.47 |
| Net income | 86.45 | 142.29 | 208.70 | 119.30 |
| Margin (%) | 14.78 | 16.54 | 17.44 | 17.73 |
* All Standalone data
Happy Forgings Offer News
- Happy Forgings RHP
- Happy Forgings DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
Happy Forgings Valuations & Margins
| FY 2021* | FY 2022 | FY 2023 | |
| EPS | 9.66 | 15.90 | 23.32 |
| PE ratio | – | – | 34.65 – 36.45 |
| RONW (%) | 13.40 | 18.07 | 21.12 |
| NAV | 72.09 | 88.0 | 110.43 |
| ROCE (%) | 16.13 | 19.38 | 24.24 |
| EBITDA (%) | 27.14 | 26.85 | 28.49 |
| Debt/Equity | 0.24 | 0.31 | 0.22 |
* All Standalone data
Happy Forgings IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 26 December 2023 | 300 | – | 3,500 |
| 23 December 2023 | 400 | – | 4,800 |
| 22 December 2023 | 380 | – | 4,500 |
| 21 December 2023 | 430 | – | 5,500 |
| 20 December 2023 | 440 | – | 5,700 |
| 19 December 2023 | 440 | – | 5,700 |
| 18 December 2023 | 425 | – | 5,500 |
| 16 December 2023 | 450 | – | 6,000 |
| 15 December 2023 | 450 | – | 6,000 |
| 14 December 2023 | 25 | – | – |
Happy Forgings IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 23,10,430 | 18,16,563 | 42,38,646 | 83,65,639 |
| 21 Dec 2023 | 220.48 | 62.09 | 14.88 | 81.91 |
| 20 Dec 2023 | 0.45 | 16.50 | 7.42 | 7.47 |
| 19 Dec 2023 | 0.01 | 3.58 | 3.03 | 2.32 |
Happy Forgings IPO Allotment Status
Happy Forgings IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Happy Forgings IPO Dates & Listing Performance
| Happy Forgings IPO Opening Date | 19 December 2023 |
| Happy Forgings IPO Closing Date | 21 December 2023 |
| Finalization of Basis of Allotment | 22 December 2023 |
| Initiation of refunds | 26 December 2023 |
| Transfer of shares to demat accounts | 26 December 2023 |
| Happy Forgings IPO Listing Date | 27 December 2023 |
| Opening Price on NSE | INR 1,000 per share (up 17.65%) |
| Closing Price on NSE | INR 1,030.80 per share (up 21.27%) |
Happy Forgings IPO Reviews – Subscribe or Avoid?
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Happy Forgings Offer Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025,
Maharashtra, India
Phone: +91 22 6630 3030
Email:Â [email protected]
Website:Â www.jmfl.com
Happy Forgings Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 022 4918 6060
Email:Â [email protected]
Website:Â www.linkintime.co.in
Happy Forgings Contact Details
HAPPY FORGINGS LIMITED
H.B 220, Post Office – Rajgarh,
Village Dugri, Ludhiana– 141 421, Punjab, India
Phone:Â +91 161 5217162
Email:Â [email protected]
Website: www.happyforgingsltd.co.in
Happy Forgings IPO FAQs
How many shares in Happy Forgings IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in Happy Forgings Public Offer?
The best way to apply in Happy Forgings public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Happy Forgings IPO GMP today?
Happy Forgings IPO GMP today is INR 300 per share.
What is Happy Forgings kostak rate today?
Happy Forgings kostak rate today is INR NA per application.
What is Happy Forgings Subject to Sauda rate today?
Happy Forgings Subject to Sauda rate today is INR 3,500 per application.
