Happy Forgings Ltd. IPO

Happy Forgings Limited is a leading Indian manufacturer of heavy forged and high-precision machined components, catering to the automotive and non-automotive sectors. They hold the second-largest production capacity for commercial vehicle and high horsepower industrial crankshafts in India. Their diverse product portfolio includes crankshafts, connecting rods, gear shafts, transmission shafts, and other critical engine components. Happy Forgings boasts over 40 years of experience and has emerged as a key player in the domestic crankshaft manufacturing industry. They serve leading original equipment manufacturers (OEMs) across various industries, including commercial vehicles, farm equipment, off-highway vehicles, and oil & gas, power generation, railways, and wind turbine sectors. This long-standing commitment to quality and innovation has positioned Happy Forgings as a reliable and trusted partner for its customers.

RHP
View
DRHP
View
Open Date

2023-12-19

Close Date

2023-12-21

IPO Details

Check out the issue details for Happy Forgings Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 850

Price Band

₹ 808 - 850

Issue Size

1008.59 Cr.

Issue Type

Book Built

Open

2023-12-19

Close

2023-12-21

Listingprice

₹ 1000

ListingGain

17.65%

Listing Date

2023-12-27

CMP

₹ 960.95

Current Return

13.05%

Company Financials

You can get the following financial statements of Happy Forgings Ltd. as of now.

Subscription Details

The details about the Happy Forgings Limited IPO is as:

  • The issue size of the IPO is 1008.59 Cr.
  • The price band for Happy Forgings Limited IPO is Rs 808 to Rs 850.
  • The shares of Happy Forgings Limited IPO will list on 27th December 2023.
  • The latest tentative GMP of Happy Forgings Limited IPO is Rs 400.
  • The shares of Happy Forgings Limited IPO is subscribed 82.63 Times as of 21st December 2023.

 

Happy Forgings Limited IPO Valuation

The approx valuation of Happy Forgings Limited IPO based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 850
Existing Shares (Qty) 8.94 Cr
Fresh Issue 400 Cr
Market Cap 7999 Cr
EPS (FY23) Rs 23.32
PE Ratio 36.44x
Industry PE 70.37x

 

Happy Forgings Limited IPO Issue Size

Happy Forgings Limited IPO issue size is 1008.59 Cr

Issue Amount
Fresh Issue 400 Cr
Offer For Sale 608.59 Cr

 

Happy Forgings Limited IPO Market Lot

An Individual can apply for a minimum 1 lot of 17 shares and a maximum of 13 lots of 221 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 17 14,450
 Maximum 13 221 1,87,850

 

Happy Forgings Limited IPO share offer

The shares of Happy Forgings Limited IPO is subscribed 82.63 Times as of 21st December 2023. The category-wise shares subscribed are as follows:

Category % Offered Subscribed
Qualified Institutional Maximum 50% 214.65 Times
Non-Institutional Minimum 15% 63.45 Times
Retail Individual Minimum 35% 15.40 Times
Total   82.63 Times

Allotment Details

Find below the dates for Happy Forgings Limited IPO:

Schedule Date
Basis of Allotment 22 December 2023
Refunds 26 December 2023
Credit to Demat Account 26 December 2023
IPO Listing Date 27 December 2023

 

Happy Forgings Limited IPO allotment is released.  Check by clicking the button below.

Check allotment status

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2016 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Net Sales 374.69 558.09 584.96 860.05 1196.53
Total Expenditure 299.88 415.65 426.21 629.16 855.59
Operating Profit 74.81 142.44 158.74 230.89 340.94
Other Income 1.78 6.82 5.86 6.06 5.75
Interest 28.65 25.06 11.78 7.16 12.48
Depreciation 27.51 28.4 35.76 37.74 54.18
Exceptional Items 0 0 0 0 0
Profit Before Tax 20.44 95.8 117.06 192.05 280.03
Provision for Tax 3.47 15.86 30.61 49.76 71.33
Net Profit 16.96 79.94 86.45 142.28 208.7
Adjusted EPS (Rs.) 0.21 0.89 0.97 1.59 2.33

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2016 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity and Liabilities
Share Capital 7.9 8.95 8.95 17.9 17.9
Total Reserves 122.97 549.53 636.21 769.71 970.4
Borrowings 134.99 54.22 30 74.05 58.18
Other N/C liabilities 23.56 21.65 23.49 22.94 23.05
Current liabilities 120.09 128.67 175.54 245.26 256.64
Total Liabilities 409.5 763.01 874.19 1129.86 1326.16
Assets
Net Block 232.3 275.45 414.65 456.19 678.44
Capital WIP 1.28 108.35 39.42 212.26 74.75
Intangible WIP 0 0.79 0.95 0 0
Investments 0 0 0 0.41 0
Loans & Advances 25.75 101.48 83.57 34.94 60
Other N/C Assets 0 0.11 1 1.1 23.64
Current Assets 150.17 276.83 334.59 424.97 489.33
Total Assets 409.5 763.01 874.19 1129.86 1326.16
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Dec 2023
Other Income 3.32
Profit Before Tax 77.67
Tax 19.77
Profit After Tax 57.9
Adjusted EPS (Rs) 6.15

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Dec 2023 78.6 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2016 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Profit from operations 20.44 96.48 117.06 192.05 280.03
Adjustment 26.67 49.81 45.62 40.2 71.2
Changes in Assets & Liabilities -1.22 47.32 -78.91 -108.86 -77.94
Tax Paid -6.93 -24.91 -33.91 -43.11 -63.84
Operating Cash Flow 38.95 168.71 49.85 80.28 209.46
Investing Cash Flow -24.49 -118.92 -58.69 -165.66 -172.45
Financing Cash Flow -16.84 -49.99 9.67 82.52 -37.01
Net Cash Flow -2.37 -0.19 0.84 -2.87 -0.01
X