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Happy Forgings IPO is a book build issue of ₹1,008.59 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to ₹400.00 crores and offer for sale of 0.72 crore shares aggregating to ₹608.59 crores.
Happy Forgings IPO bidding started from Dec 19, 2023 and ended on Dec 21, 2023. The allotment for Happy Forgings IPO was finalized on Dec 22, 2023. The shares got listed on BSE, NSE on Dec 27, 2023.
Happy Forgings IPO price band is set at ₹850.00 per share . The lot size for an application is 17. The minimum amount of investment required by an retail is ₹13,736 (17 shares). The lot size investment for sNII is 14 lots (238 shares), amounting to ₹2,02,300, and for bNII, it is 70 lots (1,190 shares), amounting to ₹10,11,500.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Happy Forgings IPO RHP for detailed Information.
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | December 27, 2023 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹808 to ₹850 per share |
| Issue Price Final | ₹850 per share |
| Lot Size | 17 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,18,65,802 shares (aggregating up to ₹1,008.59 Cr) |
| Fresh Issue | 47,05,882 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 71,59,920 shares of ₹2 (aggregating up to ₹608.59 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 9,42,04,882 shares |
Happy Forgings IPO offers total 1,18,65,802 shares. Out of which 59,32,900 (50.00%) allocated to QIB, 23,73,160 (20.00%) allocated to QIB, 17,79,871 (15.00%) allocated to NII, 41,53,031 (35.00%) allocated to RII and 35,59,740 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 59,32,900 (50.00%) | NA |
| − Anchor Investor Shares Offered | 35,59,740 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 23,73,160 (20.00%) | NA |
| NII (HNI) Shares Offered | 17,79,871 (15.00%) | NA |
| − bNII > ₹10L | 11,86,580 (10.00%) | 4,985 |
| − sNII < ₹10L | 5,93,291 (5.00%) | 2,492 |
| Retail Shares Offered | 41,53,031 (35.00%) | 2,44,295 |
| Total Shares Offered | 1,18,65,802 (100.00%) |
Happy Forgings IPO raises ₹302.58 crore from anchor investors. Happy Forgings IPO Anchor bid date is December 18, 2023. Happy Forgings IPO Anchor Investors list
| Bid Date | December 18, 2023 |
| Shares Offered | 35,59,740 |
| Anchor Portion Size (In Cr.) | 302.58 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 21, 2024 |
Happy Forgings IPO opens on December 19, 2023, and closes on December 21, 2023.
| IPO Open Date | Tue, Dec 19, 2023 |
| IPO Close Date | Thu, Dec 21, 2023 |
| Tentative Allotment | Fri, Dec 22, 2023 |
| Initiation of Refunds | Tue, Dec 26, 2023 |
| Credit of Shares to Demat | Tue, Dec 26, 2023 |
| Tentative Listing Date | Wed, Dec 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 21, 2023 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,450 |
| Retail (Max) | 13 | 221 | ₹1,87,850 |
| S-HNI (Min) | 14 | 238 | ₹2,02,300 |
| S-HNI (Max) | 69 | 1,173 | ₹9,97,050 |
| B-HNI (Min) | 70 | 1,190 | ₹10,11,500 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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%.
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 |
| 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 | ||||
The market capitalization of Happy Forgings IPO is ₹8007.42 Cr.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] HFL is a leading and largest critical, complex and precision machined components for varied industries. It supplied its products to renowned global OEMs. The company posted steady growth in its top and bottom lines. Based on FY24 annualized earnings the issue appears reasonably priced. Investors may consider parking funds for the medium to long term rewards. Read detail review...
| Listing Date | December 27, 2023 |
| BSE Script Code | 544057 |
| NSE Symbol | HAPPYFORGE |
| ISIN | INE330T01021 |
| Final Issue Price | ₹850 per share |
| BSE Listing Group | B |
Happy Forgings Ltd.
B XXIX, 2254/1,
Kanganwal Road, P.O. Jugiana,
Ludhiana – 141 120,
Ludhiana, Punjab
Phone: +91 161 5217162
Email: complianceofficer@ha ppyforgingsltd.co.in
Website: http://www.happyforgingsltd.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: happyforgings.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Happy Forgings IPO is a main-board IPO of 1,18,65,802 equity shares of the face value of ₹2 aggregating up to ₹1,008.59 Crores. The issue is priced at ₹850 per share. The minimum order quantity is 17.
The IPO opens on December 19, 2023, and closes on December 21, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Happy Forgings IPO using UPI as a payment gateway. Zerodha customers can apply in Happy Forgings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Happy Forgings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Happy Forgings IPO opens on December 19, 2023 and closes on December 21, 2023.
Happy Forgings IPO lot size is 17, and the minimum amount required for application is ₹14,450.
You can apply in Happy Forgings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Happy Forgings IPO will be done on Friday, December 22, 2023, and the allotted shares will be credited to your demat account by Tuesday, December 26, 2023. Check the Happy Forgings IPO allotment status.
The Happy Forgings IPO listing date is on Wednesday, December 27, 2023.
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