Search IPOs
Subscription Status · Jul 09 – Jul 13, 2026 · ₹62–66
The Happy Steels IPO subscription has recorded exceptional investor demand with an overall subscription of 77.89× as of Jul 13, 2026, indicating that investors applied for 77.89 times the number of shares on offer. All investor categories (institutional, HNI, and retail) have participated actively, making this one of the closely watched IPO openings.
Last updated: Jul 13, 2026, 5:05 PM IST
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
722,000 | 42,606,000 |
59.01×
|
43 |
|
NII
Non-Institutional Investors
|
540,000 | 61,532,000 |
113.95×
|
5,267 |
|
bNII
Bids above ₹10L
|
360,000 | 46,546,000 |
129.29×
|
2,858 |
|
sNII
Bids below ₹10L
|
180,000 | 14,986,000 |
83.26×
|
2,409 |
|
Individual
Individual Investors
|
1,260,000 | 92,296,000 |
73.25×
|
23,074 |
|
Total
|
2,522,000 | 196,434,000 |
77.89×
|
33,651 |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 722,000 | 152,000 | 0.21× | 1 |
| NII | 540,000 | 708,000 | 1.31× | 43 |
| bNII | 360,000 | 634,000 | 1.76× | 32 |
| sNII | 180,000 | 74,000 | 0.41× | 11 |
| Individual Investors | 1,260,000 | 616,000 | 0.49× | 154 |
| Total | 2,522,000 | 1,476,000 | 0.59× | 241 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 722,000 | 454,000 | 0.63× | 2 |
| NII | 540,000 | 3,100,000 | 5.74× | 243 |
| bNII | 360,000 | 2,336,000 | 6.49× | 123 |
| sNII | 180,000 | 764,000 | 4.24× | 120 |
| Individual Investors | 1,260,000 | 4,448,000 | 3.53× | 1,112 |
| Total | 2,522,000 | 8,002,000 | 3.17× | 1,600 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 722,000 | 42,606,000 | 59.01× | 43 |
| NII | 540,000 | 61,532,000 | 113.95× | 5,267 |
| bNII | 360,000 | 46,546,000 | 129.29× | 2,858 |
| sNII | 180,000 | 14,986,000 | 83.26× | 2,409 |
| Individual Investors | 1,260,000 | 92,296,000 | 73.25× | 23,074 |
| Total | 2,522,000 | 196,434,000 | 77.89× | 33,651 |
As of July 13, 2026, the Happy Steels IPO has been subscribed 77.89 times overall. The IPO is fully subscribed with strong investor demand indicating extremely high interest. A total of 33,651 applications received across all categories.
The Happy Steels IPO subscription window was open from July 09, 2026 to July 13, 2026. Investors could apply through their demat account or ASBA facility.
The Happy Steels IPO has a price band of ₹62 to ₹66 per share, with a lot size of 2,000 shares. Minimum retail investment: ₹124,000 (lower band) or ₹132,000 (upper band).
The QIB category has been subscribed 59.01 times. QIBs were offered 722,000 shares. Strong QIB subscription indicates high institutional confidence.
Overall NII: 113.95×. bNII (>₹10L): 129.29×, sNII (<₹10L): 83.26×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on July 14, 2026. Check via the registrar's website, Bigshare Services Private Limited using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Happy Steels IPO is expected to list on July 16, 2026. Shares will list on NSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 77.89× means investors have bid for 77.89 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares, allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of data pending, the estimated allotment probability for retail investors is Low. Lottery-based; ~1 lot if allotted. If final subscription stays below 1×, all applicants are likely to get full allotment.
You can apply for Happy Steels IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Jul 09 to Jul 13, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Happy Steels IPO GMP data, check the IPORise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price. Use it only as a sentiment signal alongside official subscription data.
New to reading subscription numbers? Read our guide on IPO subscription explained.
Subscription Opens Done
Jul 09, 2026Subscription Closes Done
Jul 13, 2026Basis of Allotment Done
Jul 14, 2026Listing on NSE Done
Jul 16, 2026Lottery-based; ~1 lot if allotted.
Share Subscription Card
Download a branded image to share on WhatsApp, Twitter, or Telegram
Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.
