Minimum Investment
About Company
Company Name: Happy Steels Limited
Industry / Sector: Auto Components (Forged & Machined Transmission/Driveline Parts)
Founded Year: 1996
Promoters: Parveen Kumar Garg, Abhishek Garg, Deepak Garg, Parveen Kumar Garg (HUF)
Happy Steels Limited is an integrated manufacturer of safety-critical, forged, and machined transmission and driveline components catering to on-highway, off-highway, electric vehicle (EV), and defence applications. The company operates across the full value chain including forging, heat treatment, precision machining, gear cutting, and more. It supplies axles, long spline shafts, spindles, and other load-bearing components to OEMs and Tier-I suppliers in India and overseas.
IPO Basic Details
| Company Name | Happy Steels Limited |
| IPO Type | SME IPO |
| Price Band | ₹62 – ₹66 |
| Lot Size | 2000 Shares |
| Total Issue Size | 37,88,000 Equity Shares (₹25.00 Cr) |
IPO Strengths & Risks
Strengths
- Integrated manufacturing capabilities (forging to precision machining)
- Focus on safety-critical components
- In-house expertise in heat treatment and quality control
- Diversified customer base (domestic & international)
- Scalable infrastructure in Ludhiana
Risks
- Inconsistent bottom-line performance
- Highly competitive and fragmented auto components sector
- Dependence on automotive and industrial demand
- Raw material and execution risks in capex
IPO Important Dates
| IPO Open Date | 09 Jul 2026 |
| IPO Close Date | 13 Jul 2026 |
| Basis of Allotment | 14 Jul 2026 |
| Refund Initiation | 15 Jul 2026 |
| Demat Credit Date | 15 Jul 2026 |
| Listing Date | 16 Jul 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – Balance Amount
Investor Reservation
| QIB Quota | 49.97% of Net Issue (incl. Anchor) |
| Retail Quota | 35.02% of Net Issue |
| HNI Quota | - |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 4000 | ₹2,64,000 |
| Retail Maximum | - | - | - |
| S-HNI Minimum | 3 Lots | 6000 | ₹3,96,000 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 8 Lots | 16000 | ₹10,56,000 |
Key Performance Indicators (KPI)
| ROE | 19.49% (Mar 2026) |
| ROCE | 20.89% (Mar 2026) |
| RoNW | - |
| PAT Margin | 7.50% (Mar 2026) |
| EBITDA Margin | 16.14% (Mar 2026) |
| EPS | 6.77 (Pre-IPO) |
| NAV per share | - |
| Debt to Equity | 1.18 (Mar 2026) |
| P/E Ratio | - |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| FY2026 (31 Mar 2026) | ₹99.66 Cr | ₹96.57 Cr | ₹7.10 Cr | ₹15.27 Cr | ₹39.98 Cr | ₹47.18 Cr |
| FY2025 (31 Mar 2025) | ₹78.62 Cr | ₹82.52 Cr | ₹2.34 Cr | ₹8.49 Cr | ₹32.88 Cr | ₹34.21 Cr |
| FY2024 (31 Mar 2024) | ₹78.37 Cr | ₹82.24 Cr | ₹4.69 Cr | ₹11.08 Cr | ₹30.54 Cr | ₹35.69 Cr |
Grey Market Premium
| GMP Price | Not Available |
| Kostak Rate | Not Available |
| Subject to Sauda | Not Available |
| Last Updated | Jul 2026 |
| Estimated Listing Price | TBA |
IPO Subscription Data
| Total Subscription | Pending |
| QIB (Ex Anchor) | Pending |
| HNI Subscription | Pending |
| Retail Subscription | Pending |
| Anchor | - |
IPO Intermediaries
Registrar: Bigshare Services Pvt. Ltd.
Registrar Website: Check RHP for details
IPO Lead Manager(s)
Company Information
Address: Kanganwal Road Jaspal Banger Ludhiana, Punjab, 141122
Website: https://happysteels.com/
Email: cs@happysteels.com
Phone: +91 6239821029
IPO Documents
Frequently Asked Questions (FAQ)
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