Happy Steels
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 14 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 16 Jul 2026 | ₹10 | — | ₹15,200 | — | ₹20,000 |
| 15 Jul 2026 | ₹10 | — | ₹15,200 | — | ₹20,000 |
| 14 Jul 2026 | ₹12 | — | ₹18,200 | — | ₹24,000 |
| 13 Jul 2026 | ₹8 | — | ₹12,200 | — | ₹16,000 |
| 12 Jul 2026 | ₹14 | — | ₹21,300 | — | ₹28,000 |
| 11 Jul 2026 | ₹14 | — | ₹21,300 | — | ₹28,000 |
| 10 Jul 2026 | ₹7 | — | ₹10,600 | — | ₹14,000 |
| 09 Jul 2026 | ₹8 | — | ₹12,200 | — | ₹16,000 |
| 08 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 07 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 06 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 05 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 04 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 03 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 09 Jul 2026 – 13 Jul 2026
- Listing date
- 16 Jul 2026
- Face value
- ₹10 per share
- Price band
- ₹62 – ₹66
- Issue price
- ₹66 per share
- Lot size
- 2,000 shares
- Sale type
- Fresh capital
- Issue type
- Book Building issue
- Listing at
- NSE SME
- Total issue size
- ₹25 Cr
- Fresh issue
- ₹23.75 Cr 35,98,000 shares
- Offer for sale
- ₹0 Cr 0 shares
- Market cap at offer price
- ₹94.29 Cr
- Promoter holding
- 99.33% → 72.99% pre-issue → post-issue
- ISIN
- INE1GFG01011
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Share India Capital Services Pvt.Ltd.
- Registered office
- Kanganwal Road, Jaspal, Banger, Punjab
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 10,76,000 | — | — |
| Market maker | 1,90,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹66
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,32,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,24,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,56,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹66 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.77 | 4.97 |
| P/E (×) | 9.75 | 13.28 |
| Price to book (×) | 1.73 | — |
| Market cap | — | ₹94.29 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 17.76%
- ROCE
- 20.89%
- Debt / equity
- 1.18
- PAT margin
- 7.50%
- EBITDA margin
- 16.14%
- NAV per share
- ₹38.09
- Price to book
- 1.73
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.