IPO

Happy Forgings Limited IPO

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Castings & Forgings

Listed On: Dec 27, 2023 at ₹ 1000.0(NSE)

₹ 14450 /17 Shares

Check Allotment

19 Dec, 2023

Open Date

21 Dec, 2023

Close Date

22 Dec, 2023

Allotment Date

27 Dec, 2023

Listing Date
Price Summary

Last Closing

1,070.00 (25.88%)

52 Week High

1,095.00

52 Week Low

724.10

Last Update

19-Dec-2025 3:30 PM
Happy Forgings Limited IPO Issue Details
  • Issue Price ₹808-850 per equity share
  • Face Value ₹2 Per Equity Share
  • Issue Price Total : ₹1008.59 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)
  • Listing at BSE, NSE
  • List Price 1000.0(NSE)
  • Listing Date 2023-12-27
  • Lead Manager Jm Financial Limited
    Axis Capital Limited
    Equirus Capital Private Limited
    Motilal Oswal Investment Advisors Limited
  • Registrar Link Intime India Private Ltd
Happy Forgings Limited IPO Details
  • Retail Portion 35% (Number of Retail Applications: 2,44,296 Approx),
    (Number of S-HNI Applications : 2,493 Approx),
    (Number of B-HNI Applications : 4,986 Approx)
Happy Forgings Limited IPO Documents
DRHP
RHP
ANCHOR
Happy Forgings Limited IPO Details


The IPO of Happy Forgings Limited is priced at ₹808-850 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from Dec 19, 2023 and ends on Dec 21, 2023. The allotment for Happy Forgings Limited IPO will be finalized on Dec 22, 2023. Happy Forgings Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Dec 27, 2023. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Jm Financial Limited, Axis Capital Limited, Equirus Capital Private Limited, Motilal Oswal Investment Advisors Limited.


The Happy Forgings Limited IPO sets its price band at 808-850 for each share. A single application for Happy Forgings Limited IPO must contain at least 17 shares.

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Happy Forgings Limited IPO Subscription Analysis And Details
Retail
15.07x
QIB
220.48x
NII
62.16x
bNII
68.46x
sNII
49.58x
Total
82.03x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 2,373,160 1,779,870
1,186,580    593,291 		4,153,031 8,306,061
Day 1 19-12-23 05:00 PM
0.01 x 3.58
x   x 		3.03 x 2.32 x
Day 2 20-12-23 05:00 PM
0.45 x 16.50
15.81 x   17.87 x 		7.42 x 7.47 x
Day 3 21-12-23 05:00 PM
220.48 x 62.16
68.46 x   49.58 x 		15.07 x 82.03 x
Total No of Applications
3,365,429
Subscription on the basis of Applications
13.72
Happy Forgings Limited Valuations
Earnings Per Share (EPS) ₹23.32/-
P/E Ratio 36.45
RoNW 21.12%
Net Asset Value (NAV) - As on 31.03.22 ₹N/A
Happy Forgings Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-20 31-Mar-19
Assets 1,326.17 1,129.87 N/A N/A
Revenue 1,202.27 866.11 N/A N/A
Profit After Tax 208.70 142.29 N/A N/A
About Happy Forgings Limited Company

Happy Forgings Limited is a manufacturer in India that specializes in engineering and producing heavy forged and high-precision machined components. Their focus is on creating complex and safety-critical components that are both valuable and margin accretive. The company operates with a vertically integrated approach, which involves engineering, process design, testing, manufacturing, and supply of a range of components.

The company produces a wide variety of products, such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products, and valve bodies, that cater to different industries and customers. It has an extensive customer base, which includes well-known names like 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, Same Deutz Fahr India Private Limited, Tata Cummins Private Limited, Watson & Chalin India Private Limited (Hendrickson India Commercial Vehicle Systems), and Yanmar Engine Manufacturing India Private Limited. Over the years, the company has successfully served customers across different 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.

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Happy Forgings Limited - Promoter(s)

Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF)

Pre Issue Share Holding : 88.24%

Post Issue Share Holding : 78.60%

Happy Forgings Limited IPO - Issue Objectives
1

Purchase of equipment, plant and machinery.

2

Prepayment of all or a portion of certain outstanding borrowings availed by the Company

3

General corporate purposes.

Happy Forgings Limited IPO - Anchor Investors

Happy Forgings IPO: Institutional investors pick Rs 302.6 crore worth of shares via anchor book.

Marquee names that participated in the anchor book of the company were Morgan Stanley, Ashoka Whiteoak ICAV, Optimix Wholesale Global Emerging Markets Share Trust, Janchor Partners, and East Bridge Capital Master Fund.

SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Fidelity Funds, Nippon Life India, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Axis Mutual Fund, DSP Mutual Fund, Edelweiss Trusteeship, Invesco India, HSBC Mutual Fund, Motilal Oswal MF and Canara Robeco Mutual Fund also invested in the firm.