Happy Forgings Limited

Happy Forgings Limited -IPO DETAILS 

Company Overview 

Established in July 1979, Happy Forgings Limited is an Indian manufacturer with expertise in the design and production of heavy forgings and high-precision machined components. The company engages in the manufacturing, design, and testing of a diverse range of products, including crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies. These products cater to various industries and clients. 

Happy Forgings Limited serves a notable customer base that includes 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, and others. The company's reach extends beyond India, as it has successfully served customers in diverse regions such as Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America. Happy Forgings Limited has demonstrated its commitment to delivering high-quality products to a global clientele in the heavy forging and machining industry. 

 Objective of the IPO 

Here are a few quick reasons why company is going public:  

1. The funds will be utilized to acquire essential equipment, plant, and machinery necessary for the company's operations. 

2. A portion of the funds will be directed towards the prepayment of either all or a specific portion of outstanding borrowings that the company has availed. 

3. For general corporate purposes. 

Company Financials 

Key Performance Indicator 

Pros 

1. Having been in operation since July 1979, Happy Forgings Limited boasts a well-established track record, solidifying its position as a premier Indian manufacturer specializing in heavy forgings and high-precision machined components. 

2. With three state-of-the-art manufacturing facilities located in Ludhiana, Punjab, the company has effectively extended its presence to a global scale. Happy Forgings Limited has successfully penetrated markets in various countries, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States. 

3. Happy Forgings Limited boasts a diverse product portfolio encompassing a broad spectrum of components, including crankshafts, front axle carriers, steering knuckles, and other items. 

4. In the fiscal year 2023, the company has achieved noteworthy financial success, evidenced by a substantial operational revenue growth of 43.02%. 

Cons 

1. The company exhibits a substantial reliance on the automotive sector, specifically in the realm of commercial vehicles, for a significant portion of its revenue. 

2. The distribution of revenue across specific regions, with notable contributions from Sweden, Turkey, and Italy, reveals a geographic concentration for Happy Forgings Limited. Factors such as economic fluctuations or political uncertainties in these regions could pose risks to the company's financial stability and performance. 

3. The company's total borrowings, coupled with the decision to utilize the IPO proceeds for the prepayment of specific borrowings, underscores its dependence on external funding sources. 

How to Apply for this IPO 

1. Go to https://ipo.adityatrading.in/ 

2. Enter your Client ID 

3. Enter the OTP received in your registered mobile number. 

4. Choose the IPO and click on apply button. 

5. Enter the UPI ID, Quantity, and Cut off the price. 

6. Click on submit button 

7. Confirm the mandate request received on your phone by entering the UPI Pin. 

You can also watch our youtube video on “How to Apply on IPO” by clicking on the link “https://www.youtube.com/watch?v=1qOI8dCpl1I&ab_channel=ATS”