Happy Forgings Ltd. IPO — GMP, Details & Subscription

IPO Details

Open Date

19 Dec 2023

Close Date

21 Dec 2023

Allotment

22 Dec 2023

Listing Date

27 Dec 2023

Exchange

NSE & BSE

Price Band

₹850

Listing Price

See chart

Allotment Status

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Price Band

₹850

Per share

Face Value

₹2 per share

Lot Size

17 Shares

per lot

Issue Size

1,18,65,802 shares (aggregating up to ₹1,008.59 Cr)

Total offering

Issue Type

Bookbuilding IPO

Min Investment

₹14,450

1 lot

Post-IPO Holding

9,42,04,882 shares

Promoters

P/E (Pre)

36.45x

P/E (Post)

33.56x

EPS (Pre)

₹23.32

UPI Deadline

2023-12-21

Mandate

Anchor AllotmentMon, 18 Dec 2023

Basis of AllotmentFri, 22 Dec 2023

Refund InitiationTue, 26 Dec 2023

Demat CreditTue, 26 Dec 2023

Listing DayWed, 27 Dec 2023

UPI Mandate Deadline2023-12-21

Sale TypeFresh Capital-cum-Offer for Sale

Fresh Issue Shares47,05,882 shares (aggregating up to ₹400.00 Cr)

Offer for Sale71,59,920 shares of ₹2 (aggregating up to ₹608.59 Cr)

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

Check AllotmentClick here →

Subscription Rate Final

Happy Forgings Ltd. IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 21 Dec 2023.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total	Amount (₹Cr)
QIB	Over 1.00x	—	—	—
NII / HNI	Over 1.00x	—	—	—
Retail	Over 1.00x	—	—	—
Total	1.00x	11,865,802	100%	₹1,008.59

IPO Shares Offered

Happy Forgings Ltd. IPO total issue size: ₹1,008.59 Cr.

Category	Shares Offered	Amount (₹Cr)	Size (%)
Total	11,865,802	₹1,008.59	100.00%

* Based on upper price band ₹850 per share

Lot Size & Investment

Lot Size

Shares per Lot

Issue Price

₹850.00

Upper Band

Min Investment

₹14,450

1 Lot

Application	Lots	Shares	Amount
Retail (Min — 2 Lots)	2	34	₹28,900
Retail (Max — 13 Lots)	13	221	₹187,850
S-HNI (Min — 14 Lots)	14	238	₹202,300
B-HNI (Min — 70 Lots)	70	1,190	₹1,011,500

* Issue Price ₹850 × Lot Size 17 shares

IPO Schedule

Anchor

18 Dec 2023

✓ Done

IPO Open

19 Dec 2023

✓ Done

IPO Close

21 Dec 2023

✓ Done

Allotment

22 Dec 2023

✓ Done

Refunds

26 Dec 2023

✓ Done

Demat Credit

26 Dec 2023

✓ Done

Listing Day

27 Dec 2023

✓ Done

₹850.00

INR · BSE

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Issue ₹850.00 Live Price

About Happy Forgings Ltd.

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%.

Objects of the Issue

Purchase of equipment, plant and machinery.

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

General corporate purposes.

Happy Forgings Ltd. Financials (Amount in Crore)

Revenue from Operations

₹866.1

31 Mar 2022

₹1,202.3

31 Mar 2023

₹675.7

30 Sep 2023

Profit After Tax (PAT)

₹142.3

31 Mar 2022

₹208.7

31 Mar 2023

₹119.3

30 Sep 2023

Particulars	30 Sep 2023	31 Mar 2023	31 Mar 2022
Revenue from Operations	675.73	1202.27	866.11
EBITDA	N/A	N/A	N/A
Profit After Tax (PAT)	119.30	208.70	142.29
Net Worth	1103.33	988.31	988.31
Total Assets	1489.80	1326.17	1129.87
Reserves & Surplus	1088.25	978.66	769.72
Borrowings	258.97	218.52	240.35
EBITDA Margin (%)	N/A	—	—
PAT Margin (%)	N/A	—	—

RoE

21.12%

RoCE

24.24%

RoNW

21.12%

Issue Structure & Shareholding

Total Shares Offered1,18,65,802 (100.00%)

Net Offer to PublicN/A

Reserved for Market MakerN/A

Pre-Issue Promoter HoldingN/A

Post-Issue Promoter Holding9,42,04,882 shares

P/BV RatioN/A

RoE21.12%

RoCE24.24%

Debt / EquityN/A

Script CodeN/A

Registrar & Lead Managers

IPO Registrar

MUFG Intime India Pvt.Ltd.

+91-22-4918 6270

happyforgings.ipo@linkintime.co.in

https://linkintime.co.in/Initial_Offer/public-issues.html

Check Allotment

Book Running Lead Managers

JM Financial Ltd.

Axis Capital Ltd.

Equirus Capital Pvt.Ltd.

Motilal Oswal Investment Advisors Ltd.

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Happy Forgings Ltd. IPO subscribed? ▲

Happy Forgings Ltd. IPO is subscribed 1.00 times by Dec 21, 2023. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Happy Forgings Ltd. IPO retail subscription status? ▼

The Happy Forgings Ltd. IPO retail category is subscribed 1.00 times as of 21 Dec 2023. The retail portion is oversubscribed.

How to subscribe Happy Forgings Ltd. IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 19 Dec 2023 and closes 21 Dec 2023. Min investment: ₹14,450 (1 lot = 17 shares). UPI mandate: 2023-12-21.

How many times Happy Forgings Ltd. IPO subscribed? ▼

The Happy Forgings Ltd. IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Happy Forgings Ltd. IPO allotment? ▼

Check allotment on the registrar website (MUFG Intime India Pvt.Ltd.) at https://linkintime.co.in/Initial_Offer/public-issues.html. Enter your PAN, application number or DP/Client ID. Allotment date: 22 Dec 2023. Refunds: on 26 Dec 2023.

When Happy Forgings Ltd. IPO will be listed? ▼

The Happy Forgings Ltd. IPO listing date is 27 Dec 2023, Wednesday. Listed on: NSE & BSE. Issue price: ₹850. Estimated listing: ₹850. GMP: NIL.

When Happy Forgings Ltd. IPO close? ▼

The Happy Forgings Ltd. IPO closes on 21 Dec 2023, Thursday. UPI mandate: 2023-12-21. Allotment: 22 Dec 2023. Listing: 27 Dec 2023.

Quick Actions

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Live Price LIVE

Last Price₹850.00

Change—

Issue Price₹850.00

vs Issue—

Quick Summary

StatusListed

Issue Price₹850

Face Value₹2

Lot Size17 Sh

Min. Amount₹14,450

GMPNIL

Est. Listing₹850

Subscribed1.00x

Open Date19 Dec 2023

Close Date21 Dec 2023

Allotment22 Dec 2023

Listing Date27 Dec 2023

ExchangeNSE & BSE

UPI Deadline2023-12-21