H

Happy Steels Ltd.

LISTED

SME

GMP-

Subscription72.43×Overall

Min. Investment₹1,24,0001 lot × 2000 shares

IPO Details

Issue Size₹864.64 Cr

Price Band₹62 – ₹66Per equity share

Lot Size2000 SharesMin 1 lot (Retail)

Face Value₹10 / sharePaid-up equity

Total Shares13.1 CrOffered to public

Market Cap₹69.29 CrAt upper price band

QIB Quota7.71%Qualified Inst. Buyers

Retail Quota13.46%Non-inst. investors

IPO Timeline

Issue Opens9 Jul 2026

IPO subscription begins

Issue Closes13 Jul 2026

Last day to apply

Basis of Allotment16 Jul 2026

Allotment finalization

Listing Date16 Jul 2026

Trading begins on BSE & NSE

About & Business

Background
Industry

The Company was originally incorporated as ‘Happy Steels Private Limited’ as a private limited company under the Companies Act, 1956 on June 14, 1996 pursuant to a Certificate of Incorporation bearing No. 16-18348 issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh (the “RoC”). Thereafter, the Company was converted into a public limited company from a private limited company pursuant to a special resolution passed by the shareholders of the Company on February 15, 2025 consequent to which the name of the Company changed from ‘Happy Steels Private Limited’ to ‘Happy Steels Limited’ and a fresh Certificate of Incorporation bearing CIN: U35923PB1996PLC018348 was issued by the Registrar of Companies, Chandigarh (the “RoC”) on March 20, 2025.

Major Events & Milestones

1996

The Company was incorporated in 1996 under the name and style of “Happy Steels Private Limited” and commenced its operations with the manufacture of axle shafts for tractors from a facility admeasuring approximately 2,600 square yards.

2000

Expanded by acquiring of 18,400 square yard land and installing a 1200-ton Horizontal Forging Press and Heat Treatment Furnace.

Entered the off-road vehicles equipment segment with direct supplies to Original Equipment Manufacturer (OEM) companies

2007

Established a Machine Component Division to transition from conventional to CNC machining.

2013

Commissioned a second 1200-ton Heavy Duty Horizontal Forging Press and Heat Treatment Furnace to enhance capacity.

2018

Entered the Commercial Vehicle and Defence Sectors with direct supplies to Original Equipment Manufacturers (OEMs) companies.

Objectives of the Issue

01Capital expenditure towards purchase of additional Plant and Machinery for our existing manufacturing unit.
02Repayment/ Prepayment of Term Loans to Banks.
03General Corporate Purpose.

Agencies & Documents

Book Running Lead Managers (BRLMs)

Share India Capital Services Pvt. Ltd.
MASTER CAPITAL SERVICES LTD

Registrar to the Issue

Bigshare Services Pvt. Ltd.62638200

IPO CalculatorListed

Price Band62 – 66Cut-off: ₹66 per share

Closes13 Jul 20265:00 PM IST

Select Lots

1

Shares2000 shares

Price per share₹66 (cut-off)

Total Investment₹1,32,000

Subscription Status

72.43× Overall

Category	Subscribed	Shares Offered
Retail Individual Investors	73.25×	12,60,000
Non Institutional Investors	84.29×	7,30,000
Qualified Institutional Buyers	59.01×	7,22,000

Last updated: 6 Jul 2026, 05:24 PM IST