Happy Forgings is launching its Initial Public Offering (IPO) with a total value of Rs 1,008.59 crores. This includes a fresh issue of 0.47 crore shares worth Rs 400.00 crores and an offer for sale of 0.72 crore shares worth Rs 608.59 crores.
The subscription for Happy Forgings IPO begins on December 19, 2023, and concludes on December 21, 2023. The allotment results are expected to be announced on Friday, December 22, 2023. The IPO is scheduled to be listed on BSE and NSE on Wednesday, December 27, 2023.
The price band for Happy Forgings IPO is fixed at ₹808 to ₹850 per share. Interested investors need to apply for a minimum lot size of 17 shares, requiring a minimum investment of ₹14,450 for retail investors.
Qualified Institutional Buyers (QIBs) have a minimum lot size of 14 lots (238 shares), amounting to ₹202,300, while Non-Institutional Investors (NIIs) need to apply for 70 lots (1,190 shares), with a minimum investment of ₹1,011,500.
Jm Financial Limited, Axis Capital Limited, Equirus Capital Private Limited, and Motilal Oswal Investment Advisors Limited are the book running lead managers overseeing the Happy Forgings IPO. Additionally, Link Intime India Private Ltd is the appointed registrar for the IPO.
Happy Forgings IPO Details
Check the details of Happy Forgings IPO in the table below:
| Happy Forgings IPO Details | |
|---|---|
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | – |
| Face Value | ₹2 per share |
| Price Band | ₹808 to ₹850 per share |
| Lot Size | 17 Shares |
| 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) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 89,499,000 |
| Share holding post issue | 94,204,882 |
Also Read: Doms IPO Allotment Date, Final Subscription Status
Happy Forgings IPO Date
Happy Forgings is set to launch its Initial Public Offering (IPO) starting December 19, 2023, with the closing date scheduled for December 21, 2023.
| Happy Forgings IPO Date | |
|---|---|
| Events | Date |
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
Happy Forgings IPO GMP
The recorded Happy Forgings IPO GMP of ₹415 as of the latest update on December 19, 2023, at 11:12 AM. The IPO’s price band is set at ₹850.00. Considering the current GMP, the estimated listing price for Happy Forgings IPO is ₹1265 (sum of the cap price and today’s GMP). This suggests a projected percentage gain or loss per share of 48.82%.
Happy Forgings IPO Lot Size
Investors have the flexibility to bid for at least 17 shares, and they can increase their bids in multiples of 17. The table below outlines the minimum and maximum investment options for both retail investors and high-net-worth individuals (HNIs), specifying the number of shares and corresponding amounts.
| Happy Forgings IPO Lot Size | |||
|---|---|---|---|
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 17 | ₹14,450 |
| Retail (Max) | 13 | 221 | ₹187,850 |
| S-HNI (Min) | 14 | 238 | ₹202,300 |
| S-HNI (Max) | 69 | 1,173 | ₹997,050 |
| B-HNI (Min) | 70 | 1,190 | ₹1,011,500 |
Happy Forgings IPO Review
HFL stands out as a top-tier provider of critical, complex, and precisely machined components across diverse industries. With a track record of supplying products to well-known global OEMs, the company has consistently demonstrated growth in both revenue and profits.
Considering the annualized earnings for FY24, the current valuation seems reasonable. Investors looking for potential medium to long-term rewards may find it worthwhile to allocate funds to HFL.
Happy Forgings IPO Subscription Status
The Happy Forgings IPO, as of December 19, 2023, 11:30 AM (Day 1), has received a subscription of 0.47 times. Specifically, the retail category has a subscription of 0.74 times, while the QIB category shows no subscription, and the NII category has a subscription of 0.45 times.
About Happy Forgings
Established in July 1979, Happy Forgings Limited is a prominent Indian manufacturer specializing in the creation of heavy forgings and high-precision machined components.
The company is dedicated to crafting, designing, and testing a diverse range of products, including crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies.
These products cater to various industries, and the company’s clientele 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, and more.
Happy Forgings Limited extends its services globally, reaching customers in Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America.
With three manufacturing facilities, two in Kanganwal and one in Dugri, all situated in Ludhiana, Punjab, the company has witnessed significant growth. In FY 2023, the operational revenue of Happy Forgings Limited surged by an impressive 43.02%.
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Happy Forgings IPO FAQs
Q.1. When does the subscription period for Happy Forgings IPO begin and end?
Ans. The subscription for Happy Forgings IPO starts on December 19, 2023, and concludes on December 21, 2023.
Q.2. When will the allotment results for Happy Forgings IPO be announced?
Ans. The allotment results are expected to be announced on Friday, December 22, 2023.
Q.3. On which stock exchanges will Happy Forgings IPO be listed?
Ans. Happy Forgings IPO is scheduled to be listed on BSE and NSE on Wednesday, December 27, 2023.
Q.4. What is the price band for Happy Forgings IPO?
Ans. The price band for Happy Forgings IPO is fixed at ₹808 to ₹850 per share.
Q.5. What is the minimum lot size for retail investors in Happy Forgings IPO?
Ans. Retail investors need to apply for a minimum lot size of 17 shares, requiring a minimum investment of ₹14,450.
