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HAPPY · NSE · Engineering or Automobile
Happy Steels IPO listed on 16 Jul 2026 on NSE at ₹68.00, a gain of 3.03% over the issue price of ₹66.00. The IPO was subscribed 77.89x overall.
Happy Steels IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 09 Jul 2026 |
| IPO Close Date | 13 Jul 2026 |
| Basis of Allotment | 14 Jul 2026 |
| Initiation of Refunds | 15 Jul 2026 |
| Credit of Shares to Demat | 15 Jul 2026 |
| Listing Date | 16 Jul 2026 |
Listing day gain
+3.03%
Listed at ₹68 (issue ₹66)
Issue
₹66
Listing
₹68
Current
₹68.5
+3.79% vs issue
Day range
₹68 – ₹71.4
Issue Size
3,788,000 shares
(aggregating up to ₹25.00 Cr)
Issue Price
₹62 – ₹66
Face Value
₹10/share
Market Lot
2,000 shares
Retail Min Investment
₹264,000
Listing At
NSE
Sale Type
fresh issue
Fresh Issue
3,598,000 shares
(aggregating up to ₹24 Cr)
Offer for Sale
[.]
Reserved for Market Maker
190,000 shares
(aggregating up to ₹1.00 Cr)
Issue Type
book building
Open Date
09 Jul
Close Date
13 Jul
Allotment
14 Jul
Listing
16 Jul
Last updated: 2 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 15 Jul 2026 Latest | ₹66 | ₹10 | ₹76 | ₹10 |
15.15%
|
10:56 PM |
| 15 Jul 2026 | ₹66 | ₹10 | ₹76 | ₹10 |
15.15%
|
6:51 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 13 Jul 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 59.01x | 43 |
| NII | 113.95x | 5,267 |
| bNII (bids above ₹10L) | 129.29x | 2,858 |
| sNII (bids below ₹10L) | 83.26x | 2,409 |
| Individual Investors | 73.25x | 23,074 |
| Total | 77.89x | 33,651 |
Showing the latest subscription snapshot.
View full subscription historyThe promoters of the company are Mr Parveen Kumar Garg, Mr Abhishek Garg, Mr Deepak Garg and Parveen Kumar Garg HUF.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹264,000 |
| Retail (Max) | 2 | 4,000 | ₹264,000 |
| S-HNI (Min) | 3 | 6,000 | ₹396,000 |
| S-HNI (Max) | 7 | 14,000 | ₹924,000 |
| B-HNI (Min) | 8 | 16,000 | ₹1,056,000 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 1,798,000 (48.01%) |
|
•
Anchor Investor Shares Offered
|
1,076,000 (28.41%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
722,000 (19.60%) |
| NII (HNI) Shares Offered | 540,000 (14.26%) |
|
•
bNII > ₹10L
|
360,000 (9.51%) |
|
•
sNII < ₹10L
|
180,000 (4.75%) |
| Individual Investors Shares Offered | 1,260,000 (33.26%) |
| Market Maker Shares Offered | 190,000 (4.47%) |
| Total Shares Offered | 3,788,000 (100.00%) |
Established in 1996, Happy Steels Limited has built a phenomenal three-decade legacy as a highly specialized engineering and automotive component powerhouse. Headquartered in the industrial hub of Ludhiana, Punjab, the company operates an integrated, high-capacity manufacturing plant spanning over 16,000 square yards. Over the years, the brand has successfully scaled its operations from a domestic forging unit into a globally trusted manufacturing partner.
The company occupies a highly technical niche, focusing on the end-to-end design, forging, and precision machining of safety-critical transmission and driveline components. Its diverse product portfolio features heavy-duty rear axles, long spline shafts, spindles, and torsion bars. Rather than dealing in generic hardware, Happy Steels engineers load-bearing components designed to withstand extreme stress. These solutions are vital to major domestic Tier-1 suppliers and international Original Equipment Manufacturers (OEMs) spanning the commercial vehicle, heavy off-highway equipment, defense, and booming electric vehicle (EV) sectors.
Standalone · ₹ in Crores
| Particulars | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total Revenue | 94.2 | 82.24 | 47.93 |
| Profit After Tax (PAT) | 0.4 | 4.69 | 3.93 |
| EBITDA | 5.36 | 11.08 | 7.83 |
| Total Assets | 69.53 | 78.37 | 93.95 |
| Net Worth | 25.85 | 30.54 | 36.81 |
| Reserves & Surplus | 24.35 | 29.04 | 35.31 |
| Total Borrowing | 26.38 | 35.69 | 42.25 |
Revenue & Profit Trend
The basis of allotment for Happy Steels IPO was finalised on 14 Jul 2026. You can check your allotment status using your PAN number or application number on the Bigshare Services Private Limited portal or BSE.
The Happy Steels IPO is expected to open in Jul 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Happy Steels IPO is ₹62.00 - ₹66.00 per share.
As per market sources, Happy Steels IPO GMP is currently ₹10.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Happy Steels IPO stands at 77.89x overall.
The listing date for Happy Steels IPO is 16 Jul 2026.
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