IPO Snapshot
Key metrics and details at a glance.
Price Band
₹62 - ₹66
Per ShareLot Size
2000 Shares
Minimum Investment
₹1,24,000
Issue Size
₹25 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35.02%
QIB Quota
49.97%
NII Quota
15.01%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Happy Steels Ltd
Business model, operations, and market positioning.
About the Company
Our Company was incorporated in 1996 and is an integrated manufacturer of Safety-Critical, Forged and Machined Transmission and Driveline components for On-highway vehicles, Off-highway vehicles, EV and Defence applications. Our Company's product portfolio consists of wide range of Axles, Long Spline Shafts, Spindle and other related components that are critical of vehicle performance and safety.
Company History
Our Company was originally incorporated as `Happy Steels Private Limited' as a private limited company under the Companies Act, 1956 on June 14, 1996 pursuant to a Certificate of Incorporation bearing No. 16-18348 issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh (the "RoC"). Thereafter, our Company was converted into a public limited company from a private limited company pursuant to a special resolution passed by the shareholders of our Company on February 15, 2025 consequent to which the name of our Company changed from `Happy Steels Private Limited' to `Happy Steels Limited' and a fresh Certificate of Incorporation bearing CIN: U35923PB1996PLC018348 was issued by the Registrar of Companies, Chandigarh (the "RoC") on March 20, 2025.
Growth Strategy
- Focus on Expansion to New Geographies.
- Optimizing Product Mix.
- Technological and Forging Infrastructure Enhancement.
Promoter Holding (Pre-Issue)
99.33%
Promoter Holding (Post-Issue)
72.98%
Issue Type
Book Building - SME
ISIN
INE1GFG01011
Financial Performance
Revenue, profit, and asset growth over the last three financial years.
Data presented in crores for FY20 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of upto 37,88,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Happy Steels Limited ("the Company" or "the Issuer") at an issue price of Rs. 62-66 per equity share (including share premium of Rs. 52-56 per equity share) for cash, aggregating up to Rs.23.49-25 Crores ("Public Issue") out of which upto 1,90,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 62-66 per equity share for cash, aggregating Rs. 1.18-1.25 Crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e Issue of 35,98,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 62-66 per equity share for cash, aggregating upto Rs. 22.31-23.75 Crores is herein after referred to as the "Net Issue". The public issue and net issue will constitute 26.51% and 25.18% respectively of the post- issue paid-up equity share capital of the company. Price Band: Rs. 62/- to Rs. 66/- per equity share of face value Rs. 10/- each. The floor price is 6.2 times of the face value and the cap price is 6.6 times of the face value of the equity shares. Bids can be made for a minimum of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.
*Subject to approvals and market conditions.
- Customization Expertise
- Experienced Promoter and management team with strong industry expertise and successful track record.
- Sustainable business model.
- Marquee clientele.
- The compan'y top ten customers contribute majority of its revenues from operations and the company does not has long-term or firm commitment arrangements with any of its customers. Any loss of business from one or more of them may adversely affect the company revenues and profitability.
- The company's business is largely concentrated in three States i.e. Punjab, Haryana and Tamil Nadu, any adverse developments in these states may negatively impact its business, financial condition and results of operations.
- The company's inability to collect receivables and default in payment from its customers could result in the reduction of the company's profits and affect its cash flows.
- The company does not has documentary records evidencing the grant of the Consent to Establish for its manufacturing facility, which may expose the company to regulatory action.
- The company's financial performance including Revenue from Operations and Profit After Tax (PAT) has fluctuated in recent periods, and any inability to grow revenue or maintain profitability may adversely affect its business and valuation.