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Home > IPO > Happy Forgings Ltd

₹ 14450 / 17 shares

IPO Details

RHP/DRHP

Issue Date

19 Dec - 21 Dec'23

Investment/lot

₹ 14450

Price Range

808 - 850

Lot Size

17

IPO Size

₹ 1008.59 Cr

IPO Listing Details

Listing On

27 Dec'23

Issue Price

850

Listed Price

₹ 1000

Retail Gain/Listing Gain

▲17.65%

Start date

19/12/2023

End date

21/12/2023

Allotment of bids

Refund Initiation

Listing on exchange

27/12/2023

IPO Timeline

Happy Forgings Limited is the fourth largest engineering-led manufacturer of complex and safety-critical, heavy forged and high precision machined components in India as of Fiscal 2023 in terms of forgings capacity (Source: Ricardo Report).

The company primarily caters to domestic and global original equipment manufacturers (OEMs) manufacturing commercial vehicles in the automotive sector.

Let's take a look at the competitive strengths and risk factors for Happy Forgings Limited:

Happy Forgings Ltd Competitive Strengths

Fourth largest engineering-led manufacturer of complex and safety-critical, heavy forged and high precision machined components in India

With over 40 years of experience in manufacturing and supplying quality and complex components, the company is well established within the industries and customers it caters to (Source: Ricardo Report). Further, the company has emerged as a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicles and high horse-power industrial crankshafts (Source: Ricardo Report).

Diversified business model, well placed to take advantage of potential alternative engine technologies

The company’s business model is well diversified by end-use industry and customer base. In the automotive sector, they derive revenues from OEMs of commercial vehicles. Within the non-automotive sector, they manufacture and supply a wide range of precision components to OEMs of farm equipment, off-highway vehicles, and industrial machinery and equipment for oil and gas, power generation, railways and wind turbine industries.

Long-standing relationships with customers across industries

Through over 40 years of business operations, the company has established long-standing relationships with several Indian and global customers across industries. They are among the few companies in India that manufacture and supply high-precision safety critical components to leading OEMs (Source: Ricardo Report).

Risk Factors

  • The business largely depends on the company’s top 10 customers.
  • The company does not have agreements where customers must purchase or place orders with them. If customers choose not to source their requirements from the company, there may be a material adverse effect on the business.
  • The company depends on a few suppliers for the supply of steel, which is their primary raw material.

Key Strategies

  • Leverage in-house engineering and product development capabilities to grow the product portfolio and tap into growing business opportunities in the industrial markets.
  • Foray into lightweight forging and machining with the introduction of aluminium components.
  • Increase wallet share and acquire new business by leveraging existing OEM relationships and adding new customers.

Happy Forgings Ltd Key Financials

Here are the key financials for Happy Forgings Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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Here's a video playlist to help you invest in Happy Forgings Limited IPO
How to apply for IPO through ASBA

How to apply for IPO through ASBA

Kotak Securities

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00m 59 s

How to apply for an IPO using UPI

How to apply for an IPO using UPI

Kotak Securities

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01m 19 s

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How to apply for an IPO using UPI

Kotak Securities • 01m 19 s

Here are the steps to apply for Happy Forgings Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Happy Forgings Ltd IPO FAQs

Happy Forgings Ltd will list on 2023-12-27.

1008.59 is the issue size of Happy Forgings Ltd IPO.

The minimum lot size is 17 shares and the investment required is ₹14450.

The price band of Happy Forgings Ltd IPO is ₹808 to ₹850.

You can read more about Happy Forgings Ltd and its IPO from the company’s red herring prospectus (RHP) here.

The Happy Forgings Limited IPO has an issue size of Rs. 1,008.59 crores. The IPO opens for subscription on 19th December 2023 and closes on 21st December 2023.

Happy Forgings Ltd IPO will be allotted on 22nd December 2023.

JM Financial, Axis Capital, Equirus Capital and Motilal Oswal Investment Advisors are the book runners for Happy Forgings Ltd IPO.

Link Intime India Private Limited is the registrar for this IPO.

You may read more about Happy Forgings Limited and its IPO from the company’s red herring prospectus (RHP) here:

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