Happy Steels
· SME · NSE
Price Band
₹62–66
Lot Size
2000 shares
Issue Size
₹25 Cr
Min. Investment
₹1,32,000
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About Happy Steels
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, 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. Its 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 16,427 square yards with an installed capacity of 8,640.00 MT per annum for cutting operations, 7,776.00 MT per annum for forging, and 5,861.21 MT per annum for machining, enabling scalable production across multiple product categories. As of May 31, 2026, Happy Steel Ltd. employed 403 personnel across various departments, supporting operations, quality assurance, engineering, and management functions.
Issue Objectives
- Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit
- Repayment/ Prepayment of Term Loans to Banks
- General Corporate Purposes
- Issue Expenses
Anchor Investors
Happy Steels IPO raises ₹7.10 crore from anchor investors. Happy Steels IPO Anchor bid date is July 8, 2026.📝 Anchor Investors Letter (PDF)
Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 17,98,000 | 49.97% |
| − Anchor Investor | 10,76,000 | 0% |
| − QIB (Ex. Anchor) | 7,22,000 | 0% |
| NII (HNI) | 5,40,000 | 15.01% |
| − bNII > ₹10L | 3,60,000 | 0% |
| − sNII < ₹10L | 1,80,000 | 0% |
| Retail | 12,60,000 | 35.02% |
| Market Maker | 1,90,000 | 0% |
- QIB50.0%
- − Anchor Investor0.0%
- − QIB (Ex. Anchor)0.0%
- NII (HNI)15.0%
- − bNII > ₹10L0.0%
- − sNII < ₹10L0.0%
- Retail35.0%
- Market Maker0.0%
Market Lot Size
| 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 |
Financials (₹ Cr)
Valuations
EPS (Pre IPO)
6.77
EPS (Post IPO)
4.97
ROE
17.76%
P/E (Pre IPO)
9.76
P/E (Post IPO)
13.28
Price / Book
1.73
Market Cap
₹94.29 Cr.
Peers Comparison
| Company | P/E | ROE | Revenue |
|---|---|---|---|
| Autofurnish Ltd. | 11.64 | ₹14.60 Cr | |
| Gallard Steel Ltd. | 17.31 | ₹37.50 Cr | |
| Sellowrap Industries Ltd. | 8.4 | ₹30.28 Cr | |
| SEDEMAC Mechatronics Ltd. | 126.91 | ₹1,087.35 Cr | |
| Tenneco Clean Air India Ltd. | 28.97 | ₹3,600.00 Cr | |
| Studds Accessories Ltd. | 33.06 | ₹455.49 Cr |
Contact Details
Happy Steels Ltd. Address
- +91 6239821029
- cs@happysteels.com
- https://happysteels.com/
Registrar Contact Details
Bigshare Services Pvt. Ltd.
- +91 22 6263 8200
- ipo@bigshareonline.com
- https://bigshareonline.com
- Office No. S6-2, 6th Floor, Pinnacle Business Park, Andheri East, Mumbai – 400093
Frequently Asked Questions
Key Dates
- Open Date
- 09 Jul 2026
- Close Date
- 13 Jul 2026
- Listing Date
- 16 Jul 2026
Issue Details
- Registrar
- Bigshare Services
- Lead Manager(s)
- Exchange
- NSE