Soon
Happy Steels Limited IPO
SME
NSE SME
100% Book Built Offer
Upcoming
Happy Steels Limited IPO
SME
NSE SME
100% Book Built Offer
Upcoming
Price Band
₹62 - ₹66
Total Issue
₹25 Cr
Bid Dates
09 Jul - 13 Jul
Subscription
-
Est. GMP
₹0 (0.00%)
Valuation
Market Cap
₹94.29 Cr
P/E Ratio
9.75x
P/B Ratio
1.73x
Happy Steels IPO Dates
Open
Close
Allotment
Refunds
Credit
Listing
Conflicting IPOs
IPOs with overlapping timeline
Business Overview
Happy Steels Limited, incorporated in 1996 and headquartered in Ludhiana, Punjab, is an integrated manufacturer of safety-critical, forged and machined transmission and driveline components for on-highway, off-highway, EV and defence applications. Its product portfolio spans Axles, Long Spline Shafts, Spindles and other related components critical to vehicle performance and safety. The company's integrated manufacturing process covers raw material procurement, forging, heat treatment, machining, gear cutting, drilling, surface hardening, grinding, inspection and packing, supplying OEMs and Tier-I suppliers across India and overseas markets including Indonesia and the USA.
Lots & IPO Size
Happy Steels IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 4,000 | ₹2,64,000 |
| Ind (Max) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,96,000 |
| S-HNI (Max) | 7 | 14,000 | ₹9,24,000 |
| B-HNI (Min) | 8 | 16,000 | ₹10,56,000 |
Market Maker
₹1.90 L
Employee
₹0.00
Shareholder
₹0.00
Happy Steels IPO Size
Total
₹25 Cr
Fresh Issue
₹25 Cr
(0.38 Cr
Shares)
Offer For Sale
₹0
(0.00
Shares)
Objects of the Issue
Capital Expenditure towards purchase of additional Plant and Machinery for existing manufacturing unit
Repayment/Prepayment of Term Loans to Banks
General Corporate Purposes
Total
Happy Steels IPO Details Live GMP
GMP
₹0
Est. Price
₹66
Est. Gain
0.00%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 03 Jul | ₹0 (0%) | ₹66 |
Happy Steels IPO Peer Comparison
There are no comparable listed peers in India as per the company
Happy Steels IPO Financial Performance
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue | 94.64 | 82.14 | 80.91 |
| PAT | 7.10 | 2.34 | 4.69 |
| Net Worth | 39.98 | 32.88 | 30.54 |
| Borrowings | 47.18 | 34.21 | 35.69 |
| Assets | 99.66 | 78.62 | 78.37 |
| NAV (₹) | 38.09 | 31.32 | 29.09 |
| EPS (₹) | 6.77 | 2.23 | 4.47 |
Key Performance Indicators (KPIs)
EBITDA
16.14%
PAT
7.50%
ROE
19.49%
ROCE
20.89%
Debt to Equity
1.18
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Happy Steels IPO Financial Statements
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue from Operations | 94.64 | 82.14 | 80.91 |
| Other Income | 1.93 | 0.38 | 1.33 |
| Total Income | 96.57 | 82.52 | 82.24 |
| Cost of materials | 54.52 | 48.06 | 51.60 |
| Changes in Inventories | -7.59 | -2.54 | -9.35 |
| Employee Benefits Expense | 9.74 | 8.56 | 10.54 |
| Finance Costs | 2.62 | 2.86 | 2.54 |
| Depreciation & Amortisation | 3.13 | 2.43 | 2.17 |
| Other Expenses | 24.64 | 19.96 | 18.37 |
| Total Expenses | 87.05 | 79.32 | 75.88 |
| Profit Before Tax | 9.52 | 3.20 | 6.36 |
| Tax Expense | 2.42 | 0.86 | 1.67 |
| Profit After Tax | 7.10 | 2.34 | 4.69 |
| EPS — Basic (₹) | 6.77 | 2.23 | 4.47 |
| EPS — Diluted (₹) | 6.77 | 2.23 | 4.47 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Equity Share Capital | 10.50 | 1.50 | 1.50 |
| Reserves & Surplus | 29.48 | 31.38 | 29.04 |
| Total Equity | 39.98 | 32.88 | 30.54 |
| Total Borrowings | 47.18 | 34.21 | 35.69 |
| Trade Payables | 5.23 | 6.31 | 5.62 |
| Other Liabilities | 7.27 | 5.21 | 6.53 |
| Total Equity & Liabilities | 99.66 | 78.62 | 78.37 |
| Fixed Assets | 40.21 | 27.80 | 24.48 |
| Inventories | 38.98 | 32.29 | 29.10 |
| Trade Receivables | 12.76 | 16.03 | 22.11 |
| Cash & Bank Balances | 1.02 | 0.44 | 0.22 |
| Other Assets | 6.70 | 2.07 | 2.46 |
| Total Assets | 99.66 | 78.62 | 78.37 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Cash Flow from Operating Activities (CFO) | 5.81 | 10.18 | -3.67 |
| Cash Flow from Investing Activities (CFI) | -16.19 | -5.64 | -3.18 |
| Cash Flow from Financing Activities (CFF) | 10.34 | -4.34 | 6.77 |
| Net Change in Cash & Equivalents | -0.04 | 0.20 | -0.08 |
| Cash & Equivalents at End of Period | 0.23 | 0.26 | 0.06 |
Promoter Holding
Promoter
92.58%
Public
7.42%
Parveen Kumar Garg
77.13%
Deepak Garg
4.64%
Abhishek Garg
4.63%
Parveen Garg HUF
6.18%
Management
Abhishek Garg
Age: 42
MD
Remuneration
₹Rs. 42.00 Lakhs p.a. (FY 2025-26)
Education
Bachelor of Business Administration
Prior Experience
Over 20 years of experience in the industry
Parveen Kumar Garg
Age: 67
WTD
Remuneration
₹Rs. 42.00 Lakhs p.a. (FY 2025-26)
Education
Not disclosed in RHP
Prior Experience
Over 30 years of experience in the industry
Deepak Garg
Age: 39
WTD
Remuneration
₹Rs. 42.00 Lakhs p.a. (FY 2025-26)
Education
Bachelor of Applied Science
Prior Experience
Over 11 years of experience in the industry
Varun Sharma
CFO
Remuneration
₹Rs. 5.82 Lakhs p.a. (FY 2025-26)
Education
Master of Business Administration
Prior Experience
Accounts Head from 2016; CFO since April 2025; ~10 years overall experience
Registrar & Lead Managers
Registrar
Bigshare Services
Lead Managers (2)
Company Details
Name: Happy Steels Limited
Address: Kanganwal Road, Jaspal Banger, Ludhiana-141122, Punjab, India
Number: +91-6239821029
Email: cs@happysteels.com
Website: https://happysteels.com
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Frequently Asked Questions (FAQs)
What is Happy Steels IPO?
Happy Steels IPO is a SME IPO having an issue size of
₹25 Crs.
Happy Steels IPO is priced at
₹62 - ₹66 per
share.
The
issue opens on 09 Jul 26
and
closes on 13 Jul 26.
When will Happy Steels IPO open?
Happy Steels IPO opens on
09 Jul 26 and closes on
13 Jul 26.
What is the GMP of Happy Steels IPO?
The estimated Grey Market Premium of Happy Steels IPO is
₹0 per share (0.00%).
What is the lot size of Happy Steels IPO?
The minimum lot size of Happy Steels IPO is
2000 shares & the minimum application amount
is
Rs.
132000.
When is the allotment of Happy Steels IPO?
The allotment date of Happy Steels IPO is
14 Jul 26.
What is the listing date of Happy Steels IPO?
The listing date of Happy Steels IPO is
16 Jul 26.
What is the subscription of Happy Steels IPO?
Happy Steels IPO is subscribed
-.
What is the price band of Happy Steels IPO?
Happy Steels IPO is priced at
₹62 - ₹66 per
share.
How to check allotment status of Happy Steels IPO?
Click the allotment link on Happy Steels IPO page of IPO360.
How to apply Happy Steels IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Happy Steels IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Happy Steels IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Happy Steels IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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