Happy Forgings Limited IPO | Details |moneymultiple.in
- Happy Forgings IPO is a book built issue with a fresh issue of Rs 400.00 crore and an offer for sale of 0.72 crore shares.
- The subscription period is from December 19, 2023, to December 21, 2023.
- Allotment is expected on Friday, December 22, 2023, and the tentative listing date is Wednesday, December 27, 2023.
- The price bands are yet to be announced.
2. IPO Financials and Reservations:
- The face value is ₹2 per share, and the lot size is [not provided].
- The total issue size is [not provided], with a fresh issue of [not provided] shares aggregating up to ₹400.00 Crore.
- The IPO comprises an offer for sale of 7,159,920 shares of ₹2 each.
- It is a Book Built Issue IPO and will be listed on BSE and NSE.
3. Happy Forgings IPO Timeline:
- The IPO opens on December 19, 2023, and closes on December 21, 2023.
- Basis of Allotment is on Friday, December 22, 2023.
- Refunds and credit of shares to demat accounts are expected on December 26, 2023.
- The listing date is Wednesday, December 27, 2023, with a cut-off time for UPI mandate confirmation on 5 PM, December 21, 2023.
4. Promoter Holding and Company Information:
- The promoters include Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Private Limited, Garg Family Trust, Paritosh Kumar Garg (HUF), and Ashish Garg & Sons (HUF).
- Shareholding pre-issue is 88.24%.
- Happy Forgings Limited, incorporated in July 1979, specializes in designing and manufacturing heavy forgings and high-precision machined components.
5. Financial Performance of Happy Forgings Limited:
- Between March 31, 2022, and March 31, 2023, the company's revenue increased by 38.81%, and the profit after tax (PAT) rose by 46.67%.
- Key performance indicators include a Return on Equity (ROE) of 21.12%, Return on Capital Employed (ROCE) of 24.24%, and Earnings per Share (EPS) of Rs 23.32.
6. Objects of the Issue:
- The Net Proceeds from the Fresh Issue will be used for the purchase of equipment, plant, and machinery, prepayment of outstanding borrowings, and general corporate purposes.