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New Delhi, Auto components maker Happy Forgings Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,200-1,300 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to 80.55 lakh shares by a promoter and a selling shareholder, according to the draft red herring prospectus (DRHP) filed on Monday. As part of the OFS, 53.7 lakh equity shares will be offloaded by <keyword id="17519692" type="General" weightage="50" keywordseo="paritosh-kumar-garg" source="Orion">Paritosh Kumar Garg</keyword> (HUF) and up to 26.85 lakh equity shares by India Business Excellence Fund - III. Also, the company may consider a pre-IPO placement of shares aggregating up to Rs 100 crore. If such placement is completed, the fresh issue size will be reduced. According to market sources, the IPO size is expected to be Rs 1,200-1,300 crore. Going by the draft papers, proceeds from the fresh issue to the tune of Rs 213.6 crore will be utilized towards the purchase of equipment, plant, and machinery, up to Rs 190 crore for payment of debt and a portion of funds will also be used for general corporate purposes. Ludhiana-based auto components maker employs a vertically integrated approach encompassing engineering, process design, testing, manufacturing, and supply of diverse components. Its primary clientele includes both domestic and global OEMs in the commercial vehicle sector, while also serving non-automotive markets like farm equipment, off-highway vehicles, and industrial machinery spanning oil and gas, power generation, railways, and wind turbine industries. Among its notable customers are <keyword id="6357085" type="General" weightage="80" keywordseo="ashok-leyland" source="Orion">Ashok Leyland</keyword>, JCB India, Mahindra &amp; Mahindra, <keyword id="574323" type="General" weightage="50" keywordseo="sml-isuzu" source="Orion">SML ISUZU</keyword>, and <keyword id="258568" type="General" weightage="80" keywordseo="tata-cummins" source="Orion">Tata Cummins</keyword>. The company has operations in nine countries, namely Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the UK, and the US. The company's consolidated revenue from operations rose 39.12 per cent to Rs 1,196.53 crore in fiscal year 2023 from Rs 860.05 crore in the preceding fiscal. Net profit jumped 46.67 per cent to Rs 208.70 crore from Rs 142.29 crore in fiscal 2022. <keyword id="45949" type="General" weightage="50" keywordseo="jm-financial" source="Orion">JM Financial</keyword>, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. Equity shares are proposed to be listed on BSE and NSE.

Auto components maker Happy Forgings files IPO papers with Sebi

Shares of <keyword id="574323" type="UNKNOWN" weightage="100" keywordseo="SML-ISUZU">SML Isuzu</keyword> Ltd., a maker of light trucks, traded near record highs after the company's revenue and profit rose due to higher unit sales. 
 
SML Isuzu said its first quarter net profit gained 24 percent to 29.1 crore rupees from 23.4 crore rupees in the same period a year ago. SML Isuzu's sales during April-June rose 13 percent to 383.2 crores versus 338.6 crores, the company said. 
 
SML Isuzu rose 68 rupees, or 4.8 percent, to 1,491 rupees on the National Stock Exchange, where 3.06 lakh shares were traded versus the 5-day average of 4.34 lakh shares. 
 
SML Isuzu's market capitalisation has surged 139 percent to 2,079 crore rupees as investors bought heavily into auto companies with low floating stock. 
 
Image credit: Indiatimes

​Shares of SML Isuzu soared to near record highs. Know why

New Delhi, May 4 () Several manufacturing companies, ranging from auto to textiles, breweries to chemical and fertilizers, have resumed manufacturing operations after getting permission from the respective state governments under the third phase of the lockdown, which begins from Monday.The manufacturers have informed the bourses about partial resumption of their manufacturing facilities with adherence to the safety precautions mandated by the government and the local authorities, and are also waiting for the approval/nod for other units.The development comes after a recent notification from the Union Home Ministry, which had last week permitted companies to resume manufacturing operations in red, green and orange zones with certain riders. Commercial vehicle maker SML Isuzu has got permission from Punjab government to start its manufacturing plant situated in district Shahid Bhagat Singh Nagar in Punjab."We wish to update that the Company has got the State Government permission to restart manufacturing operations at its Plant with limited workforce effective from today - 4th May, 2020," the company said in a regulatory filing adding "Work from Home Policy" will continue as per the government directions from time to time".Rajasthan-based Chambal Breweries and Distilleries has also informed the exchanges about resumption of operations. "As per the orders and directions issued by the Government of India and respective State Governments for lockdown to prevent the spread of coronavirus , now the operations at the Company have started," it said in a regulatory filing. Automotive and industrial lubricant manufacturing company Castrol India has also started operations at its plant in Silvassa in Dadra and Nagar Haveli."The operations at Silvassa are being carried out in complete compliance with the precautionary measures, conditions and directions as mentioned in the guidelines / orders from respective Government authorities regarding the COVID-19 safety advisories," it said.Hardware manufacturer Cerebra Integrated Technologies said that the company has resumed its manufacturing operation after receiving the required permission from the local authorities."The Company has resumed its manufacturing operations at its facilities located in the States Peenya Industrial Area Bangalore and Narasapura KIADB Industrial Area Kolar District in the state of Karnataka and will gradually scale up its production," it said.Pune-based process and project engineering company Praj Industries has also resumed operations in certain areas. "The Company has obtained permission from the Office of the Development Commissioner, Kandla Special Economic Zone (SEZ) regarding partial resumption of operations at Company's SEZ Unit II and Unit I at Kandla with effect from 21st April, 2020 and 22nd April, 2020 respectively," it said.Similarly, Amines and Plasticizers Ltd, the largest producer of Ethanolamines, Alkyl Alkanolamines, Morpholine Derivatives, has also partially resumed operations. "We are pleased to inform that the Company has partially resumed its operations after receiving required permissions and having ensured all health and safety measures as prescribed by the local authorities and State Government," it said.Ferro alloys manufacturer Nava Bharat has resumed operations (Power and Ferro Alloys) at plants situated in Paloncha, Telangana and Dhenkanal, Odisha, after receiving the "permissions with restrictions" from the respective state governments."However, the operations of our subsidiary, Nava Bharat Energy India Limited (150 MW Unit) at Paloncha, Telangana continue to be under shutdown, as there is no bilateral contract and there being no alternative viable market on the power exchange," it said.Integrated Printing, Logistics and Courier solutions provider DJ Mediaprint &amp; Logistics has also informed exchanges that it has got permission from Maharashtra government to start factory in few shifts from Monday."We have received the Permission for Commissioning of Factory under lockdown from the Government of Maharashtra, Department of Industries , Enery &amp; Labour started few shifts effective from today with limited manpower adhering to all compliances as mentioned in the permission as well as various Central/State/District Authority Orders," it said.Export-oriented terry towels and tufted rugs manufacturer Riba Textiles has also got the nod to start manufacturing operation. "We are pleased to inform that the Company has partially resumed its operations after receiving required permissions and having ensured all health and safety measures as prescribed by the local authorities and State Government," it said.On Friday, the Home Affairs Ministry issued new guidelines to regulate different activities in this period based on risk profiling of all the districts into Red (hotspot), Green and Orange zones.India is under a lockdown since March 25 to prevent the spread of the coronavirus. On Friday, the government extended it for two weeks from May 4 with certain relaxation.According to the latest updates from the Health Ministry, the number of cases from COVID-19 has climbed to 42,533 and death toll risen to 1,373 in the country. KRH RKL ANUANU

Lockdown 3.0: Several firms resume manufacturing after getting nod from local authorities

You Searched For "SML ISUZU" and got 3 results

Auto components maker Happy Forgings files IPO papers with Sebi

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Shares of SML Isuzu soared to near record highs. Know why

Shailendra Bhatnagar

Lockdown 3.0: Several firms resume manufacturing after getting nod from local authorities

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You Searched For "SML ISUZU" and got 3 results

Auto components maker Happy Forgings files IPO papers with Sebi

PTI

​Shares of SML Isuzu soared to near record highs. Know why

Shailendra Bhatnagar

Lockdown 3.0: Several firms resume manufacturing after getting nod from local authorities

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Shares of SML Isuzu soared to near record highs. Know why