· SME · NSE
Price Band
₹62–66
Lot Size
2000 shares
Issue Size
₹25 Cr
Min. Investment
₹1,32,000
Indicative, updates through the day
Cap price plus current GMP: ₹76 — arithmetic, not a forecast
Subscription data will appear once bidding opens.
Happy Steels IPO is an SME issue that listed on NSE on 16 July 2026. The issue price band is fixed at ₹62–₹66 per equity share with a minimum market lot size of 2000 shares, bringing the total issue size to ₹25 Cr. At the upper price band, the minimum retail application requires one lot amounting to ₹1,32,000.
The latest unlisted Grey Market Premium (GMP) for Happy Steels IPO is quoted at ₹10, representing a premium of approximately 15.15% over the upper price band of ₹66. On a simple cap price plus GMP basis, the estimated opening price indicates a listing near , and informal quotes have held steady over recent sessions. Please note that GMP is an unregulated sentiment indicator quoted by off-market dealers; it fluctuates based on supply-demand dynamics and does not constitute a guaranteed listing price. For historical accuracy studies, read , or compare with .
The minimum investment for retail investors is one lot of 2000 shares (approx. ₹1,32,000 at the cut-off price). Applications must be submitted using ASBA via Net Banking or the UPI Mandate route through registered stockbrokers (Zerodha, Groww, Angel One, Upstox).
The official registrar appointed for this issue is Bigshare Services Pvt. Ltd., with the basis of allotment finalised on 14 July 2026 and listing completed on 16 July 2026. Once declared, you can check your allotment status on our IPO Allotment Checker using your PAN or Application Number. If you are not allotted shares, the ASBA block on your bank funds is automatically released by T+2 day.
Issue Price
₹66
Listed At
₹68
Current Price
₹68.5
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.
Happy Steels IPO raises ₹7.10 crore from anchor investors. Happy Steels IPO Anchor bid date is July 8, 2026.
| 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% |
| 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 |
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
₹69Cr.
| 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 |
Happy Steels Ltd. Address
Bigshare Services Pvt. Ltd.