Happy Steels Limited
SMEHAPPY • NSE
Issue details
Price band
₹62 - ₹66
Lot size
2,000 shares
Issue size
₹25 Cr
Min. investment
₹1,32,000
Registrar
Bigshare Services
Grey market premium
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IPO Timeline
Open
9 Jul
Close
13 Jul
Allotment
14 Jul
Listing
16 Jul
- Refunds & demat credit
- 15 Jul 2026
- Mandate end
- 28 Jul 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| Retail | 2,000shares 1 lot · ₹1,32,000 | 2,000shares 1 lot · ₹1,32,000 |
| HNI | 4,000shares 2 lots · ₹2,64,000 | No limit funds permitting |
Based on the upper price band of ₹66 and a lot of 2,000 shares.
Issue structure
Face value
₹10 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital only
Fresh issue
₹24 Cr
35,98,000 shares
Shares pre-issue
1,04,98,180
Shares post-issue
1,42,86,180
Reservation
- QIB
- 17,98,000
- NII
- 5,40,000
- Retail
- 12,60,000
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 6.77 | 4.97 |
| P/E | 9.76 | 13.28 |
| Market cap | ₹69.29 Cr. | ₹97.86 Cr |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 19.49% |
| ROCE | 20.89% |
| Debt/Equity | 1.18 |
| RoNW | 17.76% |
| PAT Margin | 7.50% |
| EBITDA Margin | 16.14% |
| NAV | 38.09 |
| Price to Book Value | 1.73 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 96.57 | 82.52 | 82.24 |
| Profit after tax | 7.1 | 2.34 | 4.69 |
| EBITDA | 15.27 | 8.49 | 11.08 |
| Net worth | 39.98 | 32.88 | 30.54 |
| Assets | 99.66 | 78.62 | 78.37 |
| Reserves & surplus | 29.48 | 31.38 | 29.04 |
| Total borrowing | 47.18 | 34.21 | 35.69 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit₹13.16 Cr
- 2.Repayment/ Prepayment of Term Loans to Banks₹4.98 Cr
- 3.General Corporate Purposes₹3.62 Cr
- 4.Issue Expenses₹3.24 Cr
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Autofurnish Ltd.SME | ₹41 | 11.64 | ₹45.15 | +10.12% |
| Gallard Steel Ltd.SME | ₹150 | 17.31 | ₹234.25 | +56.17% |
| Sellowrap Industries Ltd.SME | ₹83 | 8.4 | ₹94.50 | +13.86% |
| SEDEMAC Mechatronics Ltd.Mainboard | ₹1352 | 126.91 | ₹1,451.10 | +7.33% |
| Tenneco Clean Air India Ltd.Mainboard | ₹397 | 28.97 | ₹490.80 | +23.63% |
| Studds Accessories Ltd.Mainboard | ₹585 | 33.06 | ₹560.30 | -4.22% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 27 Sep 2026. Always verify against the RHP before applying.