Happy Forgings Ltd. Company History and Annual Growth Details

The Company was incorporated as ‘Happy Forgings Private Limited’ at Jalandhar, Punjab as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated July 2, 1979, issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the EGM of the Shareholders held on March 31, 1998, and the name of the Company was changed to ‘Happy Forgings Limited’, and a fresh certificate of incorporation dated April 1, 1998, was issued to the Company by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh.

Major events and milestones of the Company :

1979
- Incorporation of the Company

1995
- Purchased heavy duty hammers for manufacturing at Kanganwal Facility II

2006
- Commencement of operations at Kanganwal Facility I

2007
- The revenue from operations of the Company crossed ?1,000 million

2008
- Commissioned the first 8,000 ton forging press

2009
- Commencement of manufacturing front steering parts by procuring axle arms
- Installed model grinding technology used to manufacture fthe cylinder and six cylinder crankshafts

2011
- Ventured into new industries i.e. commercial vehicles, farm equipments and industrial equipments

2017
- Commissioned the second 8,000 ton forging press

2018
- Fund raised from India Business Excellence Fund – III
- The revenue from operations of the Company crossed ?5,000 million

2019
- Forayed into a new sector by manufacturing pinion shaft to cater to the manufacturers in the wind turbine
industry

2021
- Installed the third 8,000 ton forging press line
- Commencement of the operations at the Dugri Facility

2022
- Commencement of sale of front axle beam for electric buses to one of the customers catering in the
commercial vehicle industry
- The long term bank facilities were assigned ‘AA-(Stable)’ rating each from CRISIL Ratings and ICRA Limited
- Commissioned the first 14,000 ton forging press line
- Installed eight dedicated lines for manufacturing crankshafts

2023
- Happy Forgings Ltd. has announced public offering of 11865802 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 848.00 per share. The gross proceeds of the issue are expected to be Rs 1,00,859.32 lakhs.
- The company's initial public offer (IPO) will open on 19 December 2023 and is expected to close on 21 December 2023, The price band of the issue has been fixed at Rs 808.00-850.00 per share. and gross proceeds of the issue are expected to be Rs 1,00,859.32 lakhs.
- The IPO includes a fresh Issue of 11865802 Equity Shares of the Company at an price of Rs 850.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 17 shares with bids in multiples of 17.