Happy Forgings Ltd IPO: Check IPO Date, Price, Details | Espresso

EspressoLogy

Happy Forgings Ltd IPO opens on December 19. Check IPO Details Issue Date Price

December 18, 2023
Happy Forgings Ltd IPO opens on December 19. Check IPO Details Issue Date Price

Happy Forgings Limited is coming out with a fresh public issue to raise Rs 1008.59 crores from the market.

Below are the details of the Happy Forgings Limited IPO:

  • Issue opens – December 19 (Tuesday)
  • Issue closes – December 21 (Thursday)
  • Issue size – Rs 1008.59 crores
  • Price band – Rs 808 to 850 per equity share
  • Bid lot – 17 shares and in multiples thereof

And here are some details of the company and further details on the Happy Forgings Limited IPO.

Company details:

  • Happy Forgings Limited are 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). 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 of 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 (Source: Ricardo Report). 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.
  • They manufacture 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. They believe that their long-standing relationships with their customers has positioned them as a trusted supplier for several Indian and global OEMs. Some of their customers include 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, Same Deutz Fahr India Private Limited, Tata Cummins Private Limited, Watson & Chalin India Private Limited (Hendrickson India Commercial Vehicle Systems) and Yanmar Engine Manufacturing India Private Limited.

Issue Size: Rs. 1008.59 crores

Issue break-up:

QIB – 50% of the offer – Rs 504.30 crores

NIB – 15% of the offer – Rs 151.29 crores

RET – 35% of the offer – Rs 353.01 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Thursday, December 21, 2023     

Not an Espresso customer, but still want to apply for the Happy Forgings Limited IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.