Happy Forgings IPO Date, Review, Price, Allotment Details

Happy Forgings IPO Details: Happy Forgings IPO date is fixed, the IPO is to hit the market on December 19 and will close on December 21. Happy Forgings IPO to raise around ₹1009 crores via IPO that comprises fresh issue of ₹400 crores and offer for sale up to 7,159,920 equity shares ₹2 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.

Happy Forgings IPO

Table of Contents

Happy Forgings 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. They, through their vertically integrated operations, are engaged in engineering, process design, testing, manufacturing, and supply of a variety of components that are both margin accretive and value-additive. They primarily cater to domestic and global original equipment manufacturers (OEMs) manufacturing commercial vehicles in the automotive sector, while in the non-automotive sector, they cater to manufacturers of farm equipment, off-highway vehicles, and manufacturers of industrial equipment and machinery for oil and gas, power generation, railways, and wind turbine industries.


With over 40 years of experience in manufacturing and supplying quality and complex components according to customers’ specifications, they have emerged as a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicle and high horse-power industrial crankshafts in India. Their focus on producing margin-accretive value-added products has led to their transition from being a forging-led business to a machined components manufacturer. Their revenue from the sale of machined products has increased from ₹3,992.02 million in Fiscal 2021 (representing 72.88% of their revenue from the sale of products in such Fiscal) to ₹8,392.33 million in Fiscal 2023 (representing 78.66% of their revenue from the sale of products in such Fiscal), at a CAGR of 44.99% which demonstrates their increased focus on machined products.

Happy Forgings manufactures a wide range of heavy forged and machined products which include crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, pinion shafts, suspension products, and valve bodies across industries for a diversified base of customers.


Objects of the Issue

  • Purchase of equipment, plant and machinery.
  • Prepayment of all or a portion of certain outstanding borrowings availed by the Company.
  • General corporate purposes.

Happy Forgings IPO Review (Apply or Not)

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Brokerage Firm IPO Review

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Happy Forgings IPO Date & Price Band Details

IPO Open:December 19, 2023
IPO Close:December 21, 2023
IPO Size:Approx ₹1009 Crores
Fresh Issue:Approx ₹400 Crores
Offer for Sale:Approx 7,159,920 Equity Share
Face Value:₹2 Per Equity Share
IPO Price Band:₹808 to ₹850 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

Happy Forgings IPO Market Lot

The Happy Forgings IPO minimum market lot is 17 shares with ₹14,450 application amount. The retail investors can apply up-to 13 lots with 221 shares or ₹187,850 amount.

ApplicationLot SizeSharesAmount
Retail Minimum117₹14,450
Retail Maximum13221₹187,850
S-HNI Minimum14238₹202,300
B-HNI Minimum681190₹1,011,500

Happy Forgings IPO Allotment & Listing Dates

The Happy Forgings IPO date is December 19 and the close date is December 21. The Happy Forgings IPO allotment will be finalized on December 22 and the IPO listing on December 27.

Anchor Investors Allotment:December 18, 2023
IPO Open Date:December 19, 2023
IPO Close Date:December 21, 2023
Basis of Allotment:December 22, 2023
Refunds:December 26, 2023
Credit to Demat Account:December 26, 2023
IPO Listing Date:December 27, 2023

You can check IPO subscription status and IPO allotment status on their respective pages.

Happy Forgings IPO Form

How to apply for the Happy Forgings IPO? You can apply for Happy Forgings IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Happy Forgings IPO in the Invest section. The other option is you can apply for Happy Forgings IPO via IPO forms downloaded via NSE and BSE. Check out the Happy Forgings forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


Happy Forgings Company Financial Report

  ₹ in Crores
YearRevenueExpensePAT
2021₹590.81₹473.75₹86.44
2022₹866.10₹674.05₹142.29
2023₹1202.27₹922.24₹208.70
2024 6M₹675.73₹516.47₹119.30

Happy Forgings IPO Valuation – FY2023

Check Happy Forgings IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹23.32 per Equity Share
Price/Earning P/E Ratio:102.63
Return on Net Worth (RoNW):21.12%
Net Asset Value (NAV):₹110.43 per Equity Share

Peer Group

  • Bharat Forge Limited
  • Craftsman Automation Limited
  • Ramkrishna Forgings Limited
  • Sona BLW Precision Forgings Limited

Company Promoters

  • Paritosh Kumar
  • Ashish Garg
  • Megha Garg
  • Ayush Capital & Financial Services Private Limited
  • Garg Family Trust
  • Paritosh Kumar Garg (HUF) 
  • Ashish Garg & Sons (HUF)

Happy Forgings IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/

Happy Forgings IPO Allotment Status Check

Check Happy Forgings IPO allotment status on Linkintime website allotment URL. Click Here

Happy Forgings IPO Lead Managers aka Merchant Bankers

  • Jm Financial Limited
  • Axis Capital Limited
  • Equirus Capital Private Limited
  • Motilal Oswal Investment Advisors Limited

Company Address

Happy Forgings Limited
B XXIX, 2254/1,
Kanganwal Road, P.O. Jugiana,
Ludhiana – 141 120,
Phone: +91 161 5217162
Email: [email protected]
Website: https://www.happyforgingsltd.com/

Happy Forgings IPO FAQs

What is Happy Forgings IPO?

Happy Forgings IPO is a main-board IPO. They are going to raise ₹1009 Crores via IPO. The issue is priced at ₹808 to ₹850 pr equity share. The IPO is to be listed on BSE & NSE.

When Happy Forgings IPO will open?

The IPO is to open on December 19, 2023 for QIB, NII, and Retail Investors.

What is Happy Forgings IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Happy Forgings IPO?

You can apply for Happy Forgings IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

How to Apply the Happy Forgings IPO through Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Happy Forgings”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Happy Forgings IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Happy Forgings”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

How to Apply the Happy Forgings IPO through Paytm Money?

Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Happy Forgings”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

What is Happy Forgings IPO Size?

Happy Forgings IPO size is ₹1009 crores.

What is Happy Forgings IPO Price Band?

Happy Forgings IPO Price Band is ₹808 to ₹850.

What is the Happy Forgings IPO Allotment Date?

Happy Forgings IPO allotment date is December 22, 2023.

What is the Happy Forgings IPO Listing Date?

Happy Forgings IPO listing date is December 27, 2023. The IPO is to list on BSE and NSE.

Note: The Happy Forgings IPO price band and date are officially announced. The IPO grey market premium (Happy Forgings IPO Premium) will be added to the IPO grey market page as it will start).

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