Happy Steels
LISTEDIPO Date: 9 Jul - 13 Jul 2026
Listing Date: 16 Jul 2026
Price Range
₹62 – ₹66
Issue Size
25 Cr
Min Investment
₹2,48,000
2 lots minimum (SEBI rule for SME)
Min Application
4000 Shares
2000 per lot × 2
Schedule of Happy Steels
Issue open date
9 Jul 2026
Issue close date
13 Jul 2026
UPI mandate deadline
13 Jul 2026 (5 PM)
Allotment finalization
14 Jul 2026
Share credit
15 Jul 2026
Listing date
16 Jul 2026
Mandate end date
28 Jul 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 25 Cr |
| Fresh Issue | 0.38 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 14 Jul 2026 |
| Allotment Link | {Link} |
Grey Market Premium
NewGrey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 16 Jul 2026Latest | ₹66 | ₹10 | ₹76(+15.15%) |
| 15 Jul 2026 | ₹66 | ₹10 | ₹76(+15.15%) |
| 14 Jul 2026 | ₹66 | ₹12 | ₹78(+18.18%) |
| 13 Jul 2026 | ₹66 | ₹8 | ₹74(+12.12%) |
| 12 Jul 2026 | ₹66 | ₹14 | ₹80(+21.21%) |
| 11 Jul 2026 | ₹66 | ₹14 | ₹80(+21.21%) |
| 10 Jul 2026 | ₹66 | ₹7 | ₹73(+10.61%) |
| 9 Jul 2026 | ₹66 | ₹8 | ₹74(+12.12%) |
| 8 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
| 7 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
| 6 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
| 5 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
| 4 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
| 3 Jul 2026 | ₹66 | ₹0 | ₹66(0%) |
Performance Happy Steels
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| ₹62 – ₹66 | ₹ 68 (3.03%) | ₹ 88.05 | 33.41% |
About Happy Steels
Happy Steels Limited is an integrated manufacturer of safety-critical forged and precision-machined transmission and driveline components for the automotive industry. Its product portfolio includes axle shafts, spindles, spline shafts, S-cam shafts, and other high-strength components used in on-highway, off-highway, electric vehicle (EV), and defence applications. The company serves leading OEMs and Tier-1 suppliers in India and overseas through fully integrated manufacturing facilities covering forging, heat treatment, machining, gear cutting, grinding, inspection, and packaging. Its in-house manufacturing capabilities and stringent quality systems enable the production of high-performance components meeting global quality
| Founded in | 1996 |
| Managing director | Abhishek Garg |
| Parent organization |
Financial Overview
Strengths
4- 1
Fully integrated manufacturing process from forging to precision machining ensures better quality control and cost efficiency.
- 2
Strong relationships with domestic and global OEMs and Tier-1 automotive suppliers, providing a diversified customer base.
- 3
Well-positioned to benefit from growth in EV, commercial vehicle, off-highway, and defence sectors.
- 4
IATF 16949-certified manufacturing facilities with decades of engineering expertise and high entry barriers in safety-critical components.
Risks
4- 1
High dependence on the automotive industry makes revenue sensitive to vehicle production cycles.
- 2
Exposure to fluctuations in steel and alloy prices may impact operating margins.
- 3
Customer concentration risk, as a significant portion of revenue may come from a limited number of OEMs.
- 4
Expansion into new capacities and export markets requires consistent execution and continued capital investment.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.63 |
| Non-Institutional Investors (NIIs) | 5.4 |
| Retail Individual Investors (RIIs) | 3.61 |
| Employee | N/A |
| Total | 3.14 |