Happy Forgings intends to utilize the net proceeds garnered from the IPO for several purposes. It includes the purchase of equipment, plant, and machinery, prepayment of debt, and addressing various general corporate requirements.
Happy Forgings recorded revenues of Rs 600 crore and a profit of Rs 116 crore for the six months ending September 2023. In FY23, its revenues grew by 39 percent, reaching Rs 1,196 crore. The company’s profit surged by 47 percent to Rs 209 crore.
Over FY21-23, the company displayed strong performance with a 43 percent CAGR in revenue, a 47 percent CAGR in EBITDA, and an impressive 55 percent CAGR in Profit After Tax (PAT).
Book-running lead managers
The issue’s book-running lead managers include JM Financial, Axis Capital, Motilal Oswal Investment Advisors, and Equirus Capital.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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