Happy Forgings IPO
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Get the complete details on Happy Forgings IPO
Overview of Happy Forgings IPO
IPO Date
19-Dec-2023 to 21-Dec-2023
Face Value
₹2 per share
Price Band
808 to 850
Lot Size
17 Share
Issue Size
11,865,802 shares (aggregating up to ₹1,008.59 Cr)
Listing At
BSE
Basis of Allotment
22-Dec-2023
Initiation of Refunds
26-Dec-2023
Credit of Shares to Demat
26-Dec-2023
Listing Date
27-Dec-2023
Cut off time for UPI Mandate
21-Dec-2023
Objective of Happy Forgings IPO
The company intends to use the net proceeds from the fresh issue for the following purposes:
About Happy Forgings IPO
Established in July 1979, Happy Forgings Limited is an Indian firm specializing in the production and design of heavy forgings and precision-machined components. The company engages in the manufacturing, designing, and testing of a diverse range of products, including crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies. Its clientele comprises prominent entities 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 others.
The company has successfully served clients across various regions, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America. Happy Forging Limited operates three manufacturing facilities, with two located in Kanganwal and one in Dugri, all situated in Ludhiana, Punjab. In FY 2023, the company witnessed a notable 43.02% increase in operational revenue.
Happy Forgings IPO Financials
Particulars (in Cr) | |||
---|---|---|---|
Total Revenue Annual | 1,202 | 860.05 | 584.96 |
Operating Expenses Annual | 0855.59 | 629.16 | 426.21 |
Operating Profit Annual | 340.94 | 230.89 | 158.74 |
Depreciation | 54.18 | 37.74 | 35.76 |
Interest Annual | 12.48 | 7.16 | 11.78 |
Tax Annual | 71.33 | 49.76 | 30.61 |
Net Profit Annual | 208.70 | 142.28 | 86.45 |
Total Share Holder Funds | 988.30 | 787.61 | 645.16 |
Fixed Asset Annual | 753.19 | 668.45 | 455.03 |
Total Non Current Asset | 836.21 | 704.28 | 538.98 |
Total Current Asset | 489.95 | 425.58 | 335.21 |
Book Value Per Share | 110.43 | 110.43 | 7,208.53 |
ROE | 21.11 | 133.69 | 13.39 |
ROCE | 27.34 | 27.34 | 18.44 |
Total Debt To Total Equity | 0.22 | 0.31 | 0.23 |
EBIDTA | 340.9 cr | 230.88 cr | 158.74 cr |
Cash From Operating | 209.46 | 80.28 | 49.85 |
Cash From Investing | -172.45 | -165.66 | -58.69 |
Cash From Finance | -37.01 | 82.52 | 9.67 |
Net Cash Flow | -0.01 | -2.87 | 0.84 |
Promoter's Holding
Total Share Capital
78970000
Offered to Public
11865802
Promoter’s Holding(Pre-Issue)
88.24
Promoter’s Holding(Post-Issue)
78.61
Deciding if Happy Forgings is a good buy requires cautious consideration. While the company boasts a robust track record of growth and a leading position in crankshaft manufacturing, some concerns linger. The listing gain fell short of expectations, and the valuation appears slightly inflated compared to rivals. Additionally, dependence on the auto sector and intense competition pose potential risks. Ultimately, the decision hangs on your individual investment goals and risk tolerance. A thorough analysis, taking into account your financial situation and advisors' inputs, is crucial before diving into Happy Forgings. Don't let excitement cloud your judgment; approach this decision with a clear, informed mind.
Happy Forgings has already listed on the stock market. The listing took place on December 27, 2023.
Whether Happy Forgings is a good buy depends on your risk appetite. It boasts strong financials and market leadership, but the high valuation and reliance on the volatile auto sector warrant caution. Aggressive investors seeking growth potential may benefit, but conservatives should proceed with a long-term view and strong risk tolerance. Ultimately, thorough research and professional advice are key before diving in.
Link Intime India Private Ltd was the registrar for Happy Forgings' IPO. They handled the allotment and record-keeping for the issuance of shares during the initial public offering process. You can find more information about them on their website: https://linkintime.co.in
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