Happy Forgings Limited
₹808 - ₹850
17
82.63
| Open Date: | 19-Dec-2023 |
| Close Date: | 21-Dec-2023 |
| Allotment Date: | 22-Dec-2023 |
| Listing Date: | 27-Dec-2023 |
| Listing Price: | ₹1000/- |
| Face Value: | ₹2 Per Equity Share |
| Issue Price: | ₹808-850 Per Equity Share |
| Issue Size: | Total Issue Size 11,865,802 shares (aggregating up to ₹1,008.59 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) |
| Market Lot (Min Amount): | Retail - ₹14,450 : S-HNI - ₹202,300 : B-HNI - ₹1,011,500 |
As on | QIB | Nll | Rll | Total |
|---|---|---|---|---|
| Shares Offered/Reserved | 2,373,160 | 1,779,870 | 4,153,031 | 8,306,061 |
| Day 1 - 19-12-23 05:00 PM | 0.01x | 3.68x | 3.17x | 2.38x |
| Day 2 - 20-12-23 05:00 PM | 0.44x | 16.94x | 7.87x | 7.69x |
| Day 3 - 21-12-23 05:00 PM | 214.65x | 63.45x | 15.40x | 82.63x |
| Total No. of Application: | 3,365,600 (Approx.) | |||
| Retail Subscription on the basis of Apps: | 13.78x | |||
| Earning Per Share(EPS) | ₹23.32/- |
| P/E Ratio | 36.45 |
| RoNW | 21.12% |
| Net Asset Value (NAV) - Post Issue: | ₹110.43/- |
| Total Assets | Total Revenue | Profit After Tax | |
|---|---|---|---|
| 31 Sep,2023 | 1,489.80 | 675.73 | 119.30 |
| 31 Mar,2023 | 1,326.17 | 1,202.27 | 208.70 |
| 31 Mar,2022 | 1,129.87 | 866.11 | 142.29 |
| 31 Mar,2022 | 876.38 | 590.81 | 86.45 |
| Pre Issue Share Holding | 88.24% |
| Post Issue Share Holding | 78.60% |
| 1. Paritosh Kumar |
| 2. Ashish Garg |
| 3. Megha Garg |
| 4. Ayush Capital & Financial Services Private Limited |
| 5. Garg Family Trust |
| 6. Paritosh Kumar Garg (HUF) |
| 7. Ashish Garg & Sons (HUF) |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Purchase of equipment, plant and machinery.
- Prepayment of all or a portion of certain outstanding borrowings availed by the Company and
- General corporate purposes.
Incorporated in July 1979, 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.
Competitive Strengths of the company are:-
- Integrating manufacturing operations with in-house product and process design capabilities has resulted in a diverse product portfolio with increasing value addition.
- The diversified business model positions the company well to leverage potential alternative engine technologies.
- The company has established long-standing relationships with customers across various industries.
- Additionally, the track record reflects the company's ability to consistently build capabilities and infrastructure with a focus on capital efficiency.
- The company's experienced Promoters and senior management team further strengthen their position in the market.
No financial information whatsoever published anywhere, within this application, should be considered as an advise to buy or sell securities or invest in IPOs, or as guide to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
Also we are not a SEBi registered analyst comapny. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this application. Above information is based on information available as on date coupled with market perceptions.
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