HAPPY STEELS LIMITED
ListedIron & Steel · SME IPO · INE1GFG01011
Price band
₹62 – ₹66
Lot size
2000 shares
Min. investment
₹2,64,000
Issue size
₹25 Cr
Face value
₹10
Registrar
Bigshare Services Pvt.Ltd.
Issue timeline
Bidding opens
09 Jul 2026
Bidding closes
13 Jul 2026
Allotment
14 Jul 2026
Listing
16 Jul 2026
Final subscription
72.43x
overall
28,384
applications
₹1,296 Cr
bid value
| Category | Sub. (x) | Offered | Bid for | ₹ Cr* |
|---|---|---|---|---|
| Qualified Institutional (QIB) | 59.01x | 7,22,000 | 4,26,06,000 | 281 |
| Non-Institutional >₹10L (bNII) | 84.63x | 5,50,000 | 4,65,46,000 | 307 |
| Non-Institutional ₹2–10L (sNII) | 83.26x | 1,80,000 | 1,49,86,000 | 99 |
| Retail (RII) | 73.25x | 12,60,000 | 9,22,96,000 | 609 |
| Total | 72.43x | 27,12,000 | 19,64,34,000 | 1,296 |
Combined NSE + BSE subscription, sourced from the exchanges and updated periodically. * bid value approx (shares bid × cut-off price). Final subscription confirmed after the issue closes.
About the company
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.
Issue details
Issue size
₹25 Cr
Fresh issue
₹25 Cr
Industry
Iron & Steel
Promoter holding (pre)
99.33%
Promoter holding (post)
72.99
Financials (₹ Cr)
| Metric | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Total income | 82.24 | 82.52 | 96.57 |
| EBITDA | 11.08 | 8.49 | 15.27 |
| Profit after tax | 4.69 | 2.34 | 7.10 |
| Net worth | 30.54 | 32.88 | 39.98 |
| Total assets | 78.37 | 78.62 | 99.66 |
| Total borrowing | 35.69 | 34.21 | 47.18 |
Objects of the issue
- Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit
- Repayment/ Prepayment of Term Loans to Banks
- General corporate purposes
Strengths
- Integrated manufacturing capabilities enabling diversified product offerings with enhanced value addition
- Strong focus on safety-critical and load-bearing components
- In-house expertise across forging, heat treatment, precision machining, and quality control
- Robust quality management systems aligned with automotive industry standards
- Diversified domestic and international customer base
- Scalable manufacturing infrastructure supporting future growth
Risks
- Dependence on a limited number of customers for a significant portion of revenue
- Fluctuations in raw material prices
- Intense competition in the industry
- Regulatory changes affecting operations
- Economic downturns impacting demand for products
Documents
Calculate your bid
At cut-off price ₹66
Lots
2
- Shares
- 4,000
- Amount
- ₹2,64,000
Above ₹2,00,000 — this falls under the HNI / NII category, not Retail.
UPI mandate — funds are blocked, not debited.
- SEBI-registered broker — NSE member 90113
- Funds stay blocked in your own bank — debited only on allotment
- Apply for your whole family from one login