RBZ Jewellers Limited | Globe Capital Market LTD.
RBZ Jewellers Limited
Price Band
₹95 to ₹100
IPO Issue Period
Dec 19, 2023 to Dec 21, 2023
Issue Size
₹100.00 Cr
Face value
₹10 per share
Fresh issue
₹100.00 Cr
Offer for sale
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
Dec 27, 2023

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Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.

The company manufactures, designs and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products and valve bodies for different industries and customers.

The company’s customer base 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 has served customers in various regions including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom and the United States of America.

Happy Forging Limited has three manufacturing facilities, two in Kanganwal and one in Dugri, all located in Ludhiana, Punjab. As of FY 2023, the operational revenue of the company has increased by 43.02%.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 289.63 252.53 289.63
Profit After Tax 22.33 14.41 9.75
EPS 7.44 4.80 3.12
OPM (%) 10.27% 7.76% 12.42%
PATM (%) 7.76% 5.71% 9.11%


  • The Company has organized manufacturing setup under one roof
  • It has diversified client Mix and geographical spread
  • Design and Innovation in its product range & its brand built on the core values of trust, transparency and innovation
  • It has experienced Promoters  with  young  leadership  and  a  demonstrated  track  record  supported  by  a  highly experienced and accomplished senior management team and board of directors
  • Funding the working capital requirements of the Company and
  • General corporate purposes.

The company is a manufacturer as well as marketing of gold jewellery. It has its own show room as well as it supplies to many retailers on Pan-India basis. Hence, investor may subscribe for medium to long term.

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