Happy Steels IPO Details
IPO Overview
| Price Band | ₹62–₹66 |
|---|---|
| Lot Size | 2000 shares |
| Min Investment | Min ₹132000 |
| GMP | ₹8 (12.12%) |
| Total Subscription | 77.81 times |
| Status | Live |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | 264000 |
| Individual investors (IND) (Max) | 2 | 4000 | 264000 |
| S-HNI (Min) | 3 | 6000 | 396000 |
| S-HNI (Max) | 7 | 14000 | 924000 |
| B-HNI (Min) | 8 | 16000 | 1056000 |
IPO Tentative Timetable
| IPO Open Date | Jul 09, 2026 |
|---|---|
| IPO Close Date | Jul 13, 2026 |
| Allotment Date | Jul 14, 2026 |
| Refund Initiation | Jul 15, 2026 |
| Listing Date | Jul 16, 2026 |
IPO Detail
| Face Value | ₹10 per share |
|---|---|
| Price Band | ₹62 to ₹66 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 37,88,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 1,90,000 shares (agg. up to ₹1 Cr)Share India Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 35,98,000 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 35,98,000 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 1,04,98,180 shares |
| Share Holding Post Issue | 1,42,86,180 shares |
Valuations
Company Financials (In Crore)
| Period Ended | Assets | Total Income | Profit After Tax | E B I T D A | N E T Worth | Reserves And Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | 99.66 | 96.57 | 7.10 | 15.27 | 39.98 | 29.48 | 47.18 |
| 31 Mar 2025 | 78.62 | 82.52 | 2.34 | 8.49 | 32.88 | 31.38 | 34.21 |
| 31 Mar 2024 | 78.37 | 82.24 | 4.69 | 11.08 | 30.54 | 29.04 | 35.69 |
Objects of the Issue
| S. No. | Objects Of The Issue | Expected Amount (in Crores) |
|---|---|---|
| 1 | Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit | 13.16 |
| 2 | Repayment/ Prepayment of Term Loans to Banks | 4.98 |
| 3 | General Corporate Purposes | |
| Total | 18.14 |
About Company
Established 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, inspection, and packing. This integrated process framework enables the company to deliver components with defined mechanical properties, high dimensional accuracy, and consistent quality in line with stringent customer specifications.
Happy Steel Limited’s product portfolio includes a wide range of axles, long spline shafts, spindles, and other safety-critical and load-bearing components that play a crucial role in vehicle performance and safety. These products are supplied to original equipment manufacturers (OEMs) and Tier-I suppliers in India and overseas markets.
The company operates a manufacturing facility in Ludhiana, Punjab, covering approximately 16,577 square yards. As of Financial Year 2025, the facility has an installed capacity of 8,640.00 MT per annum for cutting operations, 7,776.00 MT per annum for forging, and 4,492.80 MT per annum for machining, enabling scalable production across multiple product categories.
The company has developed strong in-house expertise in manufacturing high-strength, safety-critical components through advanced forging techniques, precision machining, and stringent quality control systems. Its quality management framework is designed to ensure consistent compliance with customer requirements, applicable regulatory norms, and global automotive industry standards.
As of December 31, 2025, Happy Steel Limited employed 429 personnel across various departments, supporting operations, quality assurance, engineering, and management functions.
Competitive Strengths:
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Integrated manufacturing capabilities enabling diversified product offerings with enhanced value addition
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Strong focus on safety-critical and load-bearing components
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In-house expertise across forging, heat treatment, precision machining, and quality control
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Robust quality management systems aligned with automotive industry standards
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Diversified domestic and international customer base
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Scalable manufacturing infrastructure supporting future growth
Promoters
- Mr Parveen Kumar Garg, Mr Abhishek Garg, Mr Deepak Garg and Parveen Kumar Garg (HUF).
Documents
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