Happy Forgings IPO is going to list on stock exchange on Wednesday, December 27, 2023. It will list on the BSE and NSE stock exchange.
Happy Forgings IPO opens for subscription on December 19, 2023 and closes on December 21, 2023. Price range of per share is at ₹808 to ₹850. The total issue is of Rs.1008.59 crores from which Rs. 400 crores will raise from fresh issue of shares and 608.59 crores from offer for sale.
Happy Forgings IPO lot size for an application is 17 shares per lot which comes to Rs. 14,450 for retail investors. The minimum investment for sNII have is 14 lots and for bNII is 70 lots which comes to Rs. 2,02,300 and Rs. 10,11,500 respectively.
1. Happy Forgings IPO Listing Schedule
| Particulars | Date |
| IPO open for subscription | December 19, 2023 |
| IPO close for subscription | December 21, 2023 |
| Allotment of shares | December 22, 2023 |
| Listing Date | December 27, 2023 |
2. Happy Forgings Limited FInancial Information
Amount in Rs. Crores
| Particulars | For the period ended September 30, 2023 | For the year ended March 31, 2023 | For the year ended March 31, 2022 | For the year ended March 31, 2021 |
| Revenue | 675.73 | 1202.27 | 866.11 | 590.81 |
| Net Profit | 119.30 | 208.70 | 142.29 | 86.45 |
| Total Equity | 1103.33 | 988.31 | 787.62 | 645.16 |
| Growth in Revenue YOY | – | 38.81% | 46.60% | – |
Amount in Rs.
| Particulars | For the period ended September 30, 2023 | For the year ended March 31, 2023 | For the year ended March 31, 2022 | For the year ended March 31, 2021 |
| EPS | 13.33 | 23.32 | 15.9 | 9.66 |
The Total Market capitalisation of Happy Forgings Limited at price of Rs. 850 per share is INR 8,007 crores.
3. About Happy Forgings Limited
Happy Forgings Limited manufacture a wide range of heavy forged and machined products which include crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products and valve bodies across industries for a diversified base of customers.
Happy Forgings Limited through their vertically integrated operations, are engaged in engineering, process design, testing, manufacturing, and supply of a variety of components that are both margin accretive and value-additive. The company has the 40 years of experience of manufacturing and supplying quality and complex components according to customers specifications, company is a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicle and high horse-power industrial crankshafts in India.
4. Objective of the issue of Happy Forgings IPO
The offer comprises a fresh issue of Equity Shares aggregating up to ₹400 crores and an offer for sale of up to 7,159,920 Equity Shares by the Selling Shareholders Offer for sale.
4.1 Fresh Issue
Happy Forgings Limited proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
1. Purchase of equipment, plant and machinery;
2. Prepayment of all or a portion of certain outstanding borrowings availed by our Company; and
3. General corporate purposes.
The Net Proceeds are currently expected to be deployed in accordance with the estimated schedule set forth below:
| Particulars | Amount | Year in which proceeds will be utilised |
| Purchase of equipment, plant and machinery | 171.13 | 2024 & 2025 |
| Prepayment of all or a portion of certain outstanding borrowings availed by our Company | 152.76 | 2024 |
| General corporate purposes | – | – |
4.2 Offer For Sale
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting their respective portion of the Offer related expenses and relevant taxes thereon. Company will not receive any proceeds from the offer for sale by the selling shareholders and the proceeds from the offer for Sale will not form part of the Net Proceeds.
For detailed information regarding offer you can see Happy Forgings Limited RHP.