Happy Steels IPO Details
| IPO Open Date | July 9, 2026 |
| IPO Close Date | July 13, 2026 |
| Face Value | ā¹10 Per Equity Share |
| IPO Price Band | ā¹62 to ā¹66 Per Share |
| Issue Size | Approx ā¹25 Crores |
| Fresh Issue | Approx ā¹25 Crores |
| Issue Type | Book-build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Happy Steels IPO Review & Key Points
- Review: Neutral
Happy Steels IPO Market Lot
The Happy Steels IPO minimum market lot is 4,000 shares with ā¹2,64,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ā¹2,64,000 |
| Retail Maximum | 2 | 4,000 | ā¹2,64,000 |
| S-HNI Minimum | 3 | 6,000 | ā¹3,96,000 |
| S-HNI Maximum | 7 | 14,000 | ā¹9,24,000 |
| B-HNI Minimum | 8 | 16,000 | ā¹10,56,000 |
IPO Reservation
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 10,76,000 Shares | 28.41% |
| QIB (Ex. Anchor) | 7,22,000 Shares | 19.06% |
| NII Shares Offered | 5,40,000 Shares | 14.26% |
| Retail Shares Offered | 12,60,000 Shares | 33.26% |
Happy Steels IPO Anchor Investors
| Anchor Bidding Date | July 8, 2026 |
| Anchor Investors List | |
| Shares Offered | 10,76,000 Shares |
| Anchor Size | 7.10 Cr. |
| lock-in period end date 50% shares (30 Days) | Aug 13, 2026 |
| lock-in period end date 50% shares (90 Days) | Oct 12, 2026 |
Happy Steels IPO Dates
The Happy Steels IPO date is July 9 and the close date is July 13. The Happy Steels IPO allotment will be finalized on July 14 and the IPO listing on July 16.
| IPO Open Date: | July 9, 2026 |
| IPO Close Date: | July 13, 2026 |
| Basis of Allotment: | July 14, 2026 |
| Refunds: | July 15, 2026 |
| Credit to Demat Account: | July 15, 2026 |
| IPO Listing Date: | July 16, 2026 |
Promoters and Holding Pattern
The promoters of the company are Mr Parveen Kumar Garg, Mr Abhishek Garg, Mr Deepak Garg and Parveen Kumar Garg (HUF).
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,04,98,180 | 99.33% |
| Promoter Holding Post Issue | 1,42,86,180 | 72.99% |
Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
| Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit | ā¹13.16 |
| Repayment/ Prepayment of Term Loans to Banks | ā¹4.98 |
| General Corporate Purpose | ā¹- |
About Happy Steels IPO
Happy Steels, founded in 1996, is one of the leading manufacturers of forged and machined metal components used in vehicle transmission and driveline systems. These components are used in various industries, including automotive, electric vehicles (EVs), off-highway equipment, and defence.
Happy Steels manages the entire manufacturing process, from raw material procurement, forging, heat treatment, precision machining, gear cutting, drilling, surface hardening, grinding, inspection, and packing. Its product portfolio consists of a wide range of axles, long spline shafts, spindles, and other safety-critical and load-bearing components. Its manufacturing facility is located in Punjab, covering 16,577 square yards with a capacity of 8,640 MT for cutting, 7,776 MT for forging, and 4,492.8 MT for machining annually.
Happy Steels IPO Company Financial Report
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ā¹94.20 | ā¹93.67 | ā¹0.40 | ā¹69.53 |
| 2024 | ā¹82.24 | ā¹75.88 | ā¹4.69 | ā¹78.37 |
| 2025 | ā¹82.52 | ā¹79.32 | ā¹2.34 | ā¹78.62 |
| 2026 | ā¹96.57 | ā¹87.05 | ā¹7.10 | ā¹99.66 |
Happy Steels IPO Valuation – FY2026
Check Happy Steels IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 19.49% |
| ROCE: | 20.89% |
| EBITDA Margin: | 16.14% |
| PAT Margin: | 7.50% |
| Debt to equity ratio: | 1.18 |
| Earning Per Share (EPS): | ā¹6.77 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 17.76% |
| Net Asset Value (NAV): | ā¹38.09 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| EMM Force Autotech Limited | 5.88 | 19.39 | 9.04% | 44.52 | 112.65 Cr. |
| Kross Limited | 8.56 | 21.34 | 11.27% | 75.92 | 673.20 Cr. |
| GNA Axles Limited | 27.24 | 13.61 | 11.65% | 223.89 | 1,444.45 Cr. |
IPO Lead Managers aka Merchant Bankers
- Share India Capital Services Pvt. Ltd.
- Master Capital Services Ltd.
Company Address
Happy Steels Ltd.
Kanganwal Road
Jaspal
Banger
Ludhiana, Punjab, 141122
Phone: +91 6239821029
Email: [email protected]
Website: https://happysteels.com/
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: 8657578989/8069219065/8069219060
Email: [email protected]
Website: https://ipo.bigshareonline.com/IPO_Status.html
Happy Steels IPO FAQs
What is Happy Steels IPO?
When Happy Steels IPO will open for subscription?
What is Happy Steels IPO Investors Portion?
How to Apply the Happy Steels IPO?
What is Happy Steels IPO Issue Size?
What is Happy Steels IPO Price Band?
What is Happy Steels IPO Lot Size?
What is the Happy Steels IPO Allotment Date?
What is the Happy Steels IPO Listing Date?
Note: The Happy Steels IPO price band and date are officially announced. The (Happy Steels IPO grey market premium) will be added to the IPO GMP page as it will start).
