Happy Steels IPO
Happy Steels IPO
Overview
Happy Steels IPO is a book build issue of ₹25.00 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹25.00 crore. Happy Steels IPO opens for subscription on Jul 9, 2026 and closes on Jul 13, 2026. The allotment for the Happy Steels IPO is expected to be finalized on Jul 14, 2026. Happy Steels IPO will list on the NSE SME with a tentative listing date fixed as Jul 16, 2026. Happy Steels IPO is set issue price band at ₹62 to ₹66 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,64,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,96,000. Share India Capital Services Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Share India Securities Ltd.
Total Shares
37,88,000
Issue Size
₹25 Cr
Price Band
₹62 – ₹66
Lot Size
2000 shares
Min. Investment
₹1,32,000
Max. Investment
₹1,32,000
Open Date
09 Jul, 2026
Close Date
13 Jul, 2026
Allotment
14 Jul, 2026
Listing
16 Jul, 2026
Max. Investment
₹1,32,000
Announced
09 Jul, 2026
Opening Date
09 Jul, 2026
Closing Date
13 Jul, 2026
Basis of Allotment
14 Jul, 2026
Initiation of Refunds
15 Jul, 2026
Credit of Shares
15 Jul, 2026
Listing Date
16 Jul, 2026
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About Happy Steels IPO
Incorporated in 1996, Happy Steel Limited is an integrated manufacturer of safety-critical, forged, and machined transmission and driveline components catering to on-highway, off-highway, electric vehicle (EV), and defence applications.
The company operates across the complete manufacturing value chain, with capabilities spanning raw material procurement, forging, heat treatment, precision machining, gear cutting, drilling, surface hardening, grinding, inspect
Happy Steels IPO Share Price
Issue Breakdown
Shareholding
Dilution: 36.1% increase in shares
Happy Steels IPO Financial Health
Happy Steels Ltd.'s revenue increased by 17% and profit after tax (PAT) rose by 203% between the financial year ending with March 31, 2026 and March 31, 2025.
Happy Steels IPO Lot Size
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | ₹2,64,000 |
| Individual investors (IND) (Max) | 2 | 4000 | ₹2,64,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,96,000 |
| S-HNI (Max) | 7 | 14000 | ₹9,24,000 |
| B-HNI (Min) | 8 | 16000 | ₹10,56,000 |
(All values in CR)
Happy Steels IPO Valuations
| Metric | Value |
|---|---|
| ROE | 19.49 |
| ROCE | 20.89 |
| Debt/Equity | 1.18 |
| RoNW | 17.76 |
| PAT Margin | 7.50 |
| EBITDA Margin | 16.14 |
| Price to Book Value | 1.73 |
(All values in CR)
Happy Steels IPO Strength & Risk
Happy Steels IPO Strengths
- Integrated manufacturer of forged and machined transmission and driveline components.
- Diversified presence across on-highway, off-highway, EV and defence segments.
- Modern manufacturing facilities with value-added engineering capabilities.
- Long-standing relationships with OEMs and industrial customers.
- Revenue, EBITDA and profit have shown improvement in the latest financial period.
- IPO proceeds will be used for capacity expansion, purchase of additional plant and machinery, debt repayment and general corporate purposes.
Happy Steels IPO Risks
- Operates in a highly cyclical automotive and engineering industry.
- Business depends on demand from a limited number of key customers.
- Revenue is exposed to fluctuations in steel and other raw material prices.
- Capital-intensive operations require continuous investment in machinery and technology.
- Competition from established domestic and global component manufacturers may pressure margins.
- SME-listed stocks generally have lower liquidity and higher price volatility than mainboard companies.
- The company's debt levels and working capital requirements remain important factors for investors to monitor.
Happy Steels IPO GMP
Happy Steels SME IPO last GMP is ₹0, last updated Jul 6th 2026 04:57 PM. With the price band of 66.00, Happy Steels SME IPO's estimated listing price is ₹66 (cap price + today's GMP).The expected percentage gain/loss per share is 0.00%.
Last updated 06 Jul, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 06 Jul, 2026 | 66 | ₹0 | - | ₹66 (0.00%) | - | 06 Jul, 2026 |
| 05 Jul, 2026 | 66 | ₹0 | - | ₹66 (0.00%) | - | 05 Jul, 2026 |
| 04 Jul, 2026 | 66 | ₹0 | - | ₹66 (0.00%) | - | 04 Jul, 2026 |
| 03 Jul, 2026 | 66 | ₹0 | - | ₹66 (0.00%) | - | 03 Jul, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Happy Steels IPO
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Find Happy Steels IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.