IPO Detail
Happy Forgings
MAINBOARDNot investment advice. Read RHP before applying.
Overview
About the Company
Happy Forgings is an Indian manufacturer specialising in designing and manufacturing heavy forged and high-precision machined components.
New to IPO analysis? You may review our structured guides on how IPO allotment works and IPO subscription meaning to better understand demand and allocation mechanics.
Issue
IPO Issue Details
Issue Price
₹808 – ₹850
Face Value
₹2
Issue Size
1008.59
Fresh Issue
400
Listing At
BSE, NSE
Lead Manager
JM Financial, Axis Capital, Equirus Capital
Registrar
Link Intime India Private Ltd
Lot Size
17
For category-wise quota breakdown such as QIB, HNI, and Retail allocation, refer to our IPO quota structure explanation.
Milestones
Timeline
If you are tracking GMP alongside subscription demand, see our grey market premium guide for a structured comparison framework.
Subscription
Live Subscription Details
Subscription Progress
Subscription data sourced from exchange updates. Values represent times subscribed (x).
Learn how subscription categories are allocated by reading our guide on QIB, HNI and Retail IPO quota structure.
If you are tracking GMP alongside subscription demand, see our grey market premium guide for a structured comparison framework.
Allotment Probability Calculator
SEBI-compliant allotment prediction based on live subscription data.
Chance of Allotment
6.6%
The Retail category is oversubscribed by 15.09x. Under SEBI rules, allotment is done via a draw of lots (lottery). Every successful applicant gets a maximum of 1 lot, regardless of how many lots they applied for.
GMP (Grey Market Premium)
GMP Overview
₹280
Updated —
+32.9% over issue price
GMP is unofficial and indicative only. It does not guarantee listing price or returns.
GMP is unofficial and indicative. To understand interpretation logic and limitations, read our IPO Grey Market Guide or begin with what IPO GMP means.
Trend
GMP Trend
No GMP data yet. Updates will appear once available.
Investment
Market Lot Details
Investors can bid in multiples of the lot size. Final investment depends on the cutoff price.
Allocation
Reservation Details
QIB
50
NII
15
RII
35
Employee
—
Issue Summary
Objectives of Issue
- 1.Fund capital expenditure for new machinery and equipment.
- 2.Fund working capital requirements.
- 3.General corporate purposes.
Financials
Key Financial Metrics
EPS Pre IPO
55.12
EPS Post IPO
43.96
P/E Pre
15.42
P/E Post
19.34
ROCE
24.30%
Debt / Equity
0.12
PAT Margin
14.55%
Market Cap
4283
Financial figures sourced from official offer documents. Always verify with the RHP.
Ownership
Promoter Holdings
Pre Issue
88.24%
Post Issue
78.60%
Contacts
Company & Registrar Details
Company Address: Village Meharban, Ludhiana - 141 120, Punjab, India
Phone: +91-161-259-1000
Email: ipo@happyforgings.com
Website: https://www.happyforgings.com
Registrar: Link Intime India Private Ltd
Registrar Phone: +91-22-6263-8200
Registrar Email: einward.ris@kfintech.com
Registrar Website: https://ris.kfintech.com
Documents
Important Links
Performance
Listing Performance
Listing Exchange
BSE, NSE
Listing Price
₹1,000
Listing Gain
17.65%
Pre-Listing Prediction
Est. Gain: 32.94%|Actual Gain: 17.65%
Application
How to Apply
UPI Method (ASBA)
Log in to your broker's app or net banking, navigate to the IPO section, select this IPO, enter lot quantity, and authorise via UPI mandate. Funds are blocked, not debited, until allotment.
ASBA via Net Banking
Log in to your bank's net banking portal, go to the IPO / ASBA section, fill in the bid details, and submit. Your bank will block the required amount automatically.
Allotment & Refund
Allotment status is typically available within 6 days of the IPO close date. Refunds for unallotted bids are credited within 2 working days post allotment.
You may also review the complete IPO allotment process explanation to understand lottery mechanics and refund timelines.
Qualitative Factors
Strengths & Risks
Company Strengths
- 1.One of the largest crankshaft manufacturers in India serving OEMs across commercial vehicles and tractors.
- 2.Strong R&D capability and long-standing OEM relationships spanning 3+ decades.
- 3.Diversified product mix covering both IC engine and EV-compatible forging components.
Company Risks
- 1.Revenue heavily dependent on the commercial vehicle and tractor industry cycles.
- 2.Transition to EVs poses a structural risk to traditional crankshaft demand over the long term.
- 3.Significant capital expenditure requirements for technology upgrades.
Legal Disclaimer
Information is sourced from publicly available exchange filings and company offer documents. GMP is unofficial and indicative. IPOCraft does not provide investment advice.
Research Before You Apply