Manipal Health Enterprises GMP ₹33 ▲ 5.59%Xtranet Technologies GMP ₹9 ▲ 7.09%Indo-MIM GMP ₹171 ▲ 35.26%Poojaa Precision Engg. GMP ₹195 ▲ 64.78%Lohia Corp GMP ₹11 ▲ 2.59%Advance Technoforge GMP ₹5.5 ▲ 5.79%Gulf Lloyds GMP ₹1 ▲ 1.00%
IPO Index
S
Sanjay Bambhaniya · Jul 11, 2026

Happy Steels SME IPO Details 2026

SME Book Build Listed
Engineering
NSE SME
Price Band
₹62 - ₹66
Issue Size
₹25.00 Cr
Lot Size
2000
Min. Investment
₹1,32,000
Live GMP ₹10
15.15% Est. Listing: ₹76
SIP CalcCompare
IPO Timeline
DRHP FILED February 12, 2026
OPEN July 9, 2026
CLOSE July 13, 2026
ALLOTMENT July 14, 2026
LISTING July 16, 2026
IPO DETAILS REVIEW GMP SUBSCRIPTION ALLOTMENT STATUS

Happy Steels

Company overview & key insights

The Happy Steels IPO size is ₹25.00 crore, including a fresh issue of ₹25.00 crore and an offer for sale of ₹– crore. It is a bookbuilding issue. The IPO issue opens on July 9, 2026 and closes on July 13, 2026. The share allotment is expected on July 14, 2026, and the listing date is July 16, 2026. Happy Steel Limited is based in Ludhiana, Punjab and operates in the Engineering sector. It filed its DRHP on February12, 2026 and will list its shares on NSE SME. Bigshare Services Pvt.Ltd. is the registrar, while Share India Capital Services Pvt.Ltd. serves as the merchant banker for the offer.

Happy Steels SME IPO Details 2026

IPO Highlights

Key details & important dates

IPO Details

Total Issues ₹25.00 Cr
Fresh Issue ₹25.00 Cr
Offer for Sale -
IPO Price Band ₹62 - ₹66
Face Value ₹10 per share
Lot Size 2000
Listed On NSE SME

IPO Dates

DRHP Filed February 12, 2026
Issue Open July 9, 2026
Issue Close July 13, 2026
Allotment Date July 14, 2026
Refunds Initiation July 15, 2026
Credit of Shares July 15, 2026
Listing Date July 16, 2026

Stay up-to-date with all IPO details. Do not miss any deadlines & avoid missed investment opportunities.

How to Apply

IPO Issue Structure

Reservation & Lot Size Details

The company has reserved shares for various investor categories. The Retail Shares reservation is not less than 35% (12,60,000 shares), and QIB has 49.97% (17,98,000). Further, the minimum lot size is 4,000 shares. The anchor investor reservation is –% (– shares), and the market maker reservation is 1,90,000 shares.

IPO Reservation

QIB 17,98,000 (49.97%)
Anchor Investor 10,76,000
QIB (Ex. Anchor) 7,22,000
NII (HNI) 5,40,000 (15.01%)
bNII > ₹10L 3,60,000
sNII < ₹10L 1,80,000
Retail 12,60,000 (35.02%)
Employee 1,90,000
Shareholder 37,88,000

IPO Lot Size

Retail (Min)
2 | 4,000 Shares
₹2,64,000
Small Investor Quota
Retail (Max)
2 | 4,000 Shares
₹2,64,000
Retail Investment Limit
S-HNI (Min)
3 | 6,000 Shares
₹3,96,000
Small HNI (₹2L – ₹10L)
S-HNI (Max)
7 | 14,000 Shares
₹9,24,000
Small HNI (Up to ₹10 L)
B-HNI (Min)
8 | 16,000 Shares
₹10,56,000
Big HNI (Above ₹10L)
Zerodha Apply Now Upstox Apply Now Angel One Apply Now

Tip: Determine your investment budget and your exact allotment chances based on your investor category.

Investment Guide

IPO Documents & GMP

Prospectus & Grey Market Premium

On February 12, 2026 the company filed its Draft Red Herring Prospectus. The Red Herring Prospectus is available to understand the business operations, financials, and the risks involved.

DRHP Document Draft Red Herring Prospectus
RHP Document Red Herring Prospectus

IPO GMP

Live

The Grey Market Premium indicates the extra price that people pay in the unofficial market. This value changes daily based on demand for the shares.

Track live GMP Today

Financial Performance (₹ in Cr)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Total Income47.9382.528294
Profit After Tax3.932.344.690
EBITDA7.838.49115.36
Net Worth36.8132.8830.5425.85
Assets93.9578.6278.3769.53
Total Debt42.2534.2235.6926.38

Key Performance Indicator

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Total Income47.9382.528294
Profit After Tax3.932.344.690
EBITDA7.838.49115.36
Net Worth36.8132.8830.5425.85
Assets93.9578.6278.3769.53
Total Debt42.2534.2235.6926.38

Happy Steels SME IPO Review

You must look at the financial position of the company before deciding on the investments. You can read our full review article here.

Read Full Review

IPO Financial Snapshot

Objectives & Key Metrics

IPO Objectives

Capital Expenditure for plant and machinery ₹11.68 Cr.
Repayment/ Prepayment of Term Loans to Banks ₹5.46 Cr.
General Corporate Purpose ₹0.00 Cr.
Total Fund Requirement ₹17.14 Cr.

IPO Key Metrics

Pre IPO EPS
6.77
Earnings Per Share
Post IPO EPS
–
Earnings Per Share
Pre IPO P/E
9.76
Price to Earnings
Post IPO P/E
–
Price to Earnings
Market Capitalization ₹94.29 Cr
Insight: IPO objectives and KPIs provide measurable data to track the company’s real growth.
IPO KPIs

Listing Day Trading
NSE SME

Final Issue Price ₹66
Open ₹68
Low ₹68
High ₹71.40
Last Trade
₹68.50
▲ +3.79%
Check IPO Performance

Quick Links

IPO GMP
Live
Live SubscriptionCompare BrokersAll Brokers
Pro
IPO CalendarTop PerformersUpcoming IPOsIPO NewsList of All Articles…

Calculators

IPO Return
Popular
Mutual FundSIPLumpsumCAGRCompare IPOs
New
SWPListing GrainView All Calculators →

Happy Steel Company Details

Company Profile · Overview

Happy Steel Limited started its business in 1996. The company operates in the Engineering sector. It manufactures transmission and driveline components for the on-highway, off-highway, electric vehicle (EV), and defence market. Its main office is in Ludhiana, Punjab. It serves many manufacturing customers every year. The firm employs 429 workers in various departments. Its leadership team has many years of industry experience.

Main Offerings

The factory builds heavy driveline units.
The team produces automotive axles.
The enterprise makes strong spline shafts.

Key Strengths

The firm handles fully integrated forging processes.
The company builds products for vital defense segments.
The business maintains rigid automotive quality fram
Company Address: Kanganwal Road, Jaspal, Banger, Ludhiana, Punjab, 141122. +91 6239821029 | cs@happysteels.com
Intermediaries
Registrar
Bigshare Services Pvt.Ltd.
8657578989
ipo@bigshareonline.com
Lead Manager
Share India Capital Services Pvt.Ltd.
Market Maker
RESERVATION 1,90,000 shares (agg. up to ₹1 Cr)
Pre-Issue
99.33%
Promoters
Promoter Group
Parveen Kumar Garg Abhishek Garg Mr Deepak Garg

Frequently Asked Questions

4 FAQs
What is Happy Steels IPO?

Happy Steels IPO offers 37,88,000 equity shares priced between ₹62 and ₹66, opening on 9 July 2026 and closing on July 13, 2026.

What is the opening date of Happy Steels IPO?

The issue opens on July 9 2026. Bidders can apply until July 13 2026.

How much limit does Happy Steels IPO retail participant have?

A retail buyer needs ₹2,64,000. This amount books exactly 4000 shares.

Where can I buy Happy Steels IPO?

The shares will trade on the NSE SME platform. It belongs to the small enterprise investment category.

Sanjay Bambhaniya
Sanjay Bambhaniya
Sanjay has 8+ years of experience in data-driven IPO insights. His expertise in digital marketing and web development complements his financial knowledge and helps him to develop effective fintech solutions. He is an entrepreneur and director who helps investors understand complex primary market trends in easy-to-understand IPO reports, news, and updates.
Discussion & Feedback
0 Comments

No comments yet. Be the first to share your thoughts!

Editorial Pickup

In the Spotlight

Important business websites and news channels talk about the IPO INDEX.

Media Feature

Logo