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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹1008.59 Cr |
| Fresh Issue | ₹400.00 Cr |
| Offer for Sale | ₹608.59 Cr |
| Face Value | ₹2 Per Equity Share |
| Price Band | ₹808.00-850.00 per share |
| Discount | Retail: 0.00 |
| BSE Code | 544057 |
| NSE Code | HAPPYFORGE |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers | JM Financial Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 17 shares and in multiples thereof
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%.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of equipment, plant and machinery | 187.03 |
| 2 | Prepayment of all or a portion of certain outstanding borrowings availed by our Company; and | 152.76 |
| 3 | General corporate purposes. | 53.94 |
| 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 |
| Total Income | 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 | ||||
| KPI | |
|---|---|
| ROE | 21.12% |
| ROCE | 24.24% |
| RoNW | 21.12% |
| PAT Margin | 17.44% |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 23.32 | |
| P/E (x) | 36.45 | 33.56 |
| Promoter Holding | 88.24% | 78.60% |
| Market Cap | ₹8007.42 Cr. | |
