Happy Forgings IPO Review: Global Leader in Heavy Forgings & Precision Components
Delve into Happy Forgings Limited's IPO unveiling from December 19 to 21, 2023, offering shares at Rs. 808 to Rs. 850 per share. The IPO aims to raise Rs. 400 crore, channeling 30% to retail investors and 15% to others. With a robust product range serving automotive and non-automotive sectors, the company boasts global operations and substantial revenue growth. Despite strengths in track record, global presence, and diverse portfolio, caution is advised due to sector dependence, geographic concentration, and borrowing reliance. Current GMP at Rs. 460 indicates market optimism, urging investors to perform diligent research before investment
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Happy Forgings Limited, a leading Indian manufacturer of heavy forgings and precision components, is set to launch its IPO from December 19 to December 21, 2023. With a strong global presence and a diverse product portfolio catering to automotive and non-automotive sectors, the company has witnessed remarkable growth, boasting a 43.02% revenue increase as of FY 2023.
IPO Details:
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Issue Price: Rs. 808 to Rs. 850 per share
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Listing Date: December 27, 2023
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Issue Type: Book Built Issue IPO
Financial Snapshot (FY 23):
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Total Assets: Rs. 1,326.17 crores
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Total Revenue: Rs. 1,202.27 crores
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Profit After Tax (PAT): Rs. 208.70 crores
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Net Worth: Rs. 988.31 crores
Strengths:
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Established Track Record: Operating since 1979 as a leading manufacturer.
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Global Reach: Operations span across various countries.
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Product Diversity: Offers components for automotive and non-automotive sectors.
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Impressive Revenue Growth: Notable 43.02% increase in operational revenue as of FY 2023.
Weaknesses:
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Automotive Sector Dependency: Significant revenue comes from commercial vehicles.
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Geographic Concentration: Reliance on specific regions poses potential risks.
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Borrowings: Utilizing IPO proceeds for outstanding borrowings.
Happy Forgings Limited's IPO presents a promising opportunity with a strong industry presence and revenue growth. However, investor caution is advised due to sector dependency and geographic concentration. The IPO's Grey Market Premium of Rs. 444 indicates positive market reception, yet thorough due diligence is recommended before investment.
Explore Complete Happy Forgings LTD IPO.
