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Happy Forgings Limited IPO (Happy Forgings IPO) Detail

December 19, 2023 - December 21, 2023

Happy Forgings IPO is a book built issue of Rs 1,008.59 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to Rs 400.00 crores and offer for sale of 0.72 crore shares aggregating to Rs 608.59 crores.

Happy Forgings IPO bidding started from December 19, 2023 and ended on December 21, 2023. The allotment for Happy Forgings IPO was finalized on Friday, December 22, 2023. The shares got listed on BSE, NSE on December 27, 2023.

Happy Forgings IPO price band is set at ₹808 to ₹850 per share. The minimum lot size for an application is 17 Shares. The minimum amount of investment required by retail investors is ₹14,450. The minimum lot size investment for sNII is 14 lots (238 shares), amounting to ₹202,300, and for bNII, it is 70 lots (1,190 shares), amounting to ₹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 of the Happy Forgings IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Happy Forgings IPO RHP for detailed information.

Happy Forgings IPO Details

IPO Date December 19, 2023 to December 21, 2023
Listing Date December 27, 2023
Face Value ₹2 per share
Price Band ₹808 to ₹850 per share
Lot Size 17 Shares
Total Issue Size11,865,802 shares
(aggregating up to ₹1,008.59 Cr)
Fresh Issue4,705,882 shares
(aggregating up to ₹400.00 Cr)
Offer for Sale7,159,920 shares of ₹2
(aggregating up to ₹608.59 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding post issue94,204,882

Happy Forgings IPO Reservation

Happy Forgings IPO offers 11,865,801 shares. 2,373,160 (20.00%) to QIB, 1,779,870 (15.00%) to NII, 4,153,031 (35.00%) to RII and 3,559,740 (30.00%) to Anchor investors. 244,295 RIIs will receive minimum 17 shares and 2,492 (sNII) and 4,985 (bNII) will receive minimum 238 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered3,559,740 (30.00%)NA
QIB Shares Offered2,373,160 (20.00%)NA
NII (HNI) Shares Offered1,779,870 (15.00%)
  bNII > ₹10L1,186,580 (10.00%)4,985
  sNII < ₹10L593,291 (5.00%)2,492
Retail Shares Offered4,153,031 (35.00%)244,295
Total Shares Offered11,865,801 (100%)

Happy Forgings IPO Anchor Investors Details

Happy Forgings IPO raises Rs 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 3,559,740
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 Timeline (Tentative Schedule)

Happy Forgings IPO opens on December 19, 2023, and closes on December 21, 2023.

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 Lot Size

Investors can bid for a minimum of 17 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

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
Lot Size Calculator

Happy Forgings IPO Promoter Holding

The promoters of the company are Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF)

Share Holding Pre Issue 88.24%
Share Holding Post Issue 78.60%

About Happy Forgings Limited

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 Financial Information (Restated Standalone)

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 Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,489.801,326.171,129.87876.38
Revenue675.731,202.27866.11590.81
Profit After Tax119.30208.70142.2986.45
Net Worth1,103.33988.31787.62645.16
Reserves and Surplus1,088.25978.66769.72636.21
Total Borrowing258.97218.52240.35153.47
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Happy Forgings IPO is Rs 8007.42 Cr.

KPI Values
ROE21.12%
ROCE24.24%
RoNW21.12%
Pre IPO Post IPO
EPS (Rs) 23.32
P/E (x) 36.4533.56

Objects of the Issue (Happy Forgings IPO Objectives)

The Company 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 the Company and
  3. General corporate purposes.

Happy Forgings IPO Review (Apply)

[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...


Happy Forgings IPO Subscription Status (Bidding Detail)

The Happy Forgings IPO is subscribed 82.63 times on December 21, 2023 7:02:00 PM. The public issue subscribed 15.40 times in the retail category, 214.65 times in the QIB category, and 63.45 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB214.65
NII63.45
    bNII (bids above ₹10L)69.87
    sNII (bids below ₹10L)50.61
Retail15.40
Total82.63

Total Application : 3,365,600 (13.78 times)

Happy Forgings IPO Prospectus

Happy Forgings IPO Rating

15
3.8
Rating:Rated 3.8 stars
Vote Here ...

Happy Forgings IPO Listing Details

Listing Date December 27, 2023
BSE Script Code 544057
NSE Symbol HAPPYFORGE
ISIN INE330T01021
Final Issue Price ₹850 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹850.00
₹1,001.25
₹961.00
₹1,087.85
₹1,029.80
NSE
₹850.00
₹1,000.00
₹961.25
₹1,087.40
₹1,030.80

Check IPO Performance…

Happy Forgings Limited Contact Details

Happy Forgings Limited
B XXIX, 2254/1,
Kanganwal Road, P.O. Jugiana,
Ludhiana – 141 120,
Phone: +91 161 5217162
Email: complianceofficer@ha ppyforgingsltd.co.in
Website: http://www.happyforgingsltd.com/

Happy Forgings IPO Registrar

Link Intime India Private 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 FAQs

Happy Forgings IPO is a main-board IPO of 11,865,802 equity shares of the face value of ₹2 aggregating up to ₹1,008.59 Crores. The issue is priced at ₹808 to ₹850 per share. The minimum order quantity is 17 Shares.

The IPO opens on December 19, 2023, and closes on December 21, 2023.

Link Intime India Private 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Happy Forgings IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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 Shares, and the minimum amount required is ₹14,450.

You can apply in Happy Forgings IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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 December 27, 2023.
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Happy Forgings IPO Message Board

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1055 Comments

422. whiteFox |   Link |  Bookmark |January 17, 2024 10:25:31 AM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Happy ne unhappy kar diya
421. johnv |   Link |  Bookmark |January 11, 2024 5:13:38 PM
Any suggestion on buy/sell @Jetha Lal @Asoke sarkar @Paymzia @Crow ?
421.1. Asoke sarkar |   Link |  Bookmark |January 11, 2024 8:48:48 PM
IPO Mentor IPO Mentor (700 Posts, 700+ Likes)
Brother ,
Through mail I come to know about this post.
I am not any buy /sell / target etc expert.
I may share my observation if you want.
In short , this share is now at a break or make ( less make but more break) situation .
Thank you
420. Goodtimesahead |   Link |  Bookmark |January 11, 2024 9:34:02 AM
What is your target in happy forging for next 3 months. Should we hold as it is not moving now and even went below listing price @newgen consultancy @lokes
419. Mr. Agrawal |   Link |  Bookmark |January 3, 2024 9:56:57 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Anyone holding hni allotment here ?? Target / Sl ? ... Breaking lows now
419.1. sree vas |   Link |  Bookmark |January 3, 2024 6:34:20 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
I am having 1 SHNI lot sold almost 105 out of 238 shares Ave 1025
419.2. Mr. Singh |   Link |  Bookmark |January 4, 2024 11:58:23 PM
IPO Guru IPO Guru (1000 Posts, 600+ Likes)
Holding my 1 HNI lot and will hold for 1-2 years.
418. IPO Reddy |   Link |  Bookmark |January 1, 2024 2:06:20 AM
Happy New Year to all chittorgarh team
417. Krishnakjha |   Link |  Bookmark |December 30, 2023 11:02:20 AM
anyone whose sbi upi still blocked
416. whiteFox |   Link |  Bookmark |December 29, 2023 10:34:25 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Not added this to my long term portfolio. Already holding its Peer sona blw shares from IPO
415. Yogi baba |   Link |  Bookmark |December 28, 2023 9:18:34 PM
Any specific reason for today selling pressure on happy forging
415.1. Thota Rajkumar |   Link |  Bookmark |December 28, 2023 9:47:18 PM
Many of the ipos which came in dec has not performed well (except IREDA any way it is also slowing for some time )due many other reasons. Few of them were
1.Ipos share price have listed more than its value(ex-Tata Tech)
2.Year end and the market is trading at high value

When the market is very high it is difficult to predict the growth of the newly listed ipos
Most of the established PSU performed well in this month rather than the new(ipo)
Hope for the better and steady growth in the january
414. Paymzia |   Link |  Bookmark |December 27, 2023 10:08:16 AM
IPO Guru IPO Guru (2700+ Posts, 4700+ Likes)
Bought 5k at 963.6

Sold 5k at 1011.6
414.15. Master Eagle |   Link |  Bookmark |December 28, 2023 7:59:50 AM
@Mukesh Elon Adani Paymzia has a big capital. This trade was normal to him. He gained about 200k because he was ready to lose about 200k too.
If you have not seen or meet any human with such big capital. Then it's your fault not other's.
414.16. Sbi banker |   Link |  Bookmark |December 28, 2023 8:07:20 AM
@Master Eagle Right 👍
413. Asoke sarkar |   Link |  Bookmark |December 27, 2023 10:00:50 PM
IPO Mentor IPO Mentor (700 Posts, 700+ Likes)
Today's delivery volume of Happy and mufti are very very encouraging though in the initial hours it had been far below the required level.
Yesterday's Suraj and Muthoot were worst of this year from beginning to the end.
I don't see any early recovery.
412. Asoke sarkar |   Link |  Bookmark |December 27, 2023 9:52:41 PM
IPO Mentor IPO Mentor (700 Posts, 700+ Likes)
Today's delivery volume of happy and mufti are very very encouraging though in the initial hours it had been far below the required level.
Yesterday's Suraj and Muthoot had been worst of this year from beginning to the end. I don't find any immediate recovery here.
411. Sumitca |   Link |  Bookmark |December 27, 2023 9:50:51 PM
No bulk deal in Happy Forging today 😶😶
410. Swar |   Link |  Bookmark |December 27, 2023 9:37:00 PM
During pre open in Happy equilibrium was 850 at 9.39 to 9.40 and the same was in INOX pre open.So only 4 minutes for price discovery has seen.
I never examine this in any ipo more than 500 cr size
Looks like grey market biggies would have shorted the GMP and price discovery kept lower
And even they shorted again around 1080
And same thing in Inox also
409. Jetha Lal |   Link |  Bookmark |December 27, 2023 10:03:10 AM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
This kind of disappointed is necessary to wipe out GMP subscribers.
Those who have conviction hold with patience and let easy & quick money makers cry.
Only patient investors should be rewarded for their efforts and time spent in market enduring up & down.
I still believe it's high probability to make money in downward or sideways market IPOs because there everyone is nervous to enter. In bull market if the company is good then you won't get allotment or punter will manipulate and wipe out the profit and normally valuation is crazy as well in bull market IPOs.

Thanks 🙏
409.12. JIGYASU |   Link |  Bookmark |December 27, 2023 5:08:35 PM
your advise ever more important . For a long time we missed you .I get one retail lot , should I hold for long
409.13. Asoke sarkar |   Link |  Bookmark |December 27, 2023 7:52:37 PM
IPO Mentor IPO Mentor (700 Posts, 700+ Likes)
When the market is at its highest phase and allotment of IPO is only few and far between , initiating such farthest from reality write up does not make any sense.
It will only help to dispirit the newes in this play.
It is incumbent upon us to read the market trend and act accordingly.

Abhi tak to koi reversal nazar nehi Aya.
408. Master Eagle |   Link |  Bookmark |December 27, 2023 10:24:51 AM
😂

408.3. Smile✍️ |   Link |  Bookmark |December 27, 2023 4:07:16 PM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
@Master Eagle Real and best
408.4. Vimal Garodia |   Link |  Bookmark |December 27, 2023 5:25:31 PM
IPO Guru IPO Guru (3500+ Posts, 3900+ Likes)
@Master Eagle Apt, to the point and a bit funny. That is why it is said "A picture is worth a thousand words"..keep them coming..

A delightful diversion from dour disappointment of recent IPOs!!👍👍
407. Crow |   Link |  Bookmark |December 27, 2023 11:54:34 AM
IPO Mentor IPO Mentor (900+ Posts, 1000+ Likes)
Exited at 1030 and took out my principal. Perhaps my last sail in the primary market of 2023 as Innova Captab's allotment also seems elusive.

Time for a recap of my IPO journey of 2023:

Total IPOs Applied: 50
Total IPO Allotments: 25
Allotted IPOs: Digvi TorqTransfer, Avalon Tech, Mankind, Nexus REIT, IKIO, HMA Agro, Senco, Yatharth, Concord (2x), Jupiter, RR Kabel, SAMHI, Sai Silks, Manoj Vaibhav, JSW Infra, Updater Services, IRM, Cello (2x), Protean, IREDA, Tata Tech, Fedfina, Inox CVA, Muthoot Microfin, Happy Forgings
Most Listing Gains From: IREDA (88%)
Most Listing Losses From: IRM (-10%)

SME IPO Allotments: 0 out of 5

I had an amazing 2023 in the primary market and I'm going in 2024 with a neutral outlook. Keep crowing!
407.6. luckiest boy |   Link |  Bookmark |December 27, 2023 3:48:47 PM
@Crow What day you applied for application 1st day, 2nd day ya third day and what timimng..how you applied at once or different day & how many application
407.7. Crow |   Link |  Bookmark |December 27, 2023 5:24:37 PM
IPO Mentor IPO Mentor (900+ Posts, 1000+ Likes)
Thank you, everyone.

@Nifty Singhji, actually my 3 retail accounts are mine, Mummy Crow and Sister Crow. Mrs. Crow handles her own investments and she's more like a hawk. Will you believe that she got allotment in ideaForge, Aeroflex, and Flair Writing?

@luckiest boyji, 3 retail applications, usually on the 2nd day. But I used to accept mandate on 3rd day. In case of blockbuster IPOs, I applied via ASBA on 1st day.
406. Jai ho IPO |   Link |  Bookmark |December 27, 2023 10:02:25 AM (200+ Posts)
Bought at 980.. Lets see
406.1. Jai ho IPO |   Link |  Bookmark |December 27, 2023 5:02:59 PM (200+ Posts)
Sold at 1050.
405. CJ ROCKS |   Link |  Bookmark |December 27, 2023 4:48:42 PM
IPO Mentor IPO Mentor (800+ Posts, 500+ Likes)
IPO bubble is not burst but certainly severely punctured in last 7-8 ipos which is good sign for genuine investor. Like secondary market correction it may also be happened with primary market also. After Tata tech.,Gandhar and flair grand listings the Gmps of every IPO is flying very high. So the correction is doctorly ordered . It is a good time to understand the valuations of these highly manipulated IPOs. People have a serious mindset thatIPO is just like 3 din mein paisa double scheme. This mentality has to be changed. So,Now more pressure to Newgen sir, Jetha ji and other respected seniors in the forum to guide us to invest safely in this IPOmania. Stay healthy and stay invested wisely .🙏
404. KGSKIPO |   Link |  Bookmark |December 27, 2023 1:29:13 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
SBI has not yet unblocked the money for happy forging . What to do now.
404.2. KGSKIPO |   Link |  Bookmark |December 27, 2023 2:59:20 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
@Vimal Garodia  Thank you and sbi has released the money just now
404.3. Vimal Garodia |   Link |  Bookmark |December 27, 2023 4:29:03 PM
IPO Guru IPO Guru (3500+ Posts, 3900+ Likes)
Great, all is well that ends well..😊😊
403. Nmanoff |   Link |  Bookmark |December 27, 2023 4:20:39 PM
AT the current price it is trading at 38PE. Considering they will do a PAT of around 260 crore by end of year. Lets see what happens. In an insane market this is a low PE lol.. I

In a sane market the PE is very high for a automotive component maker.