Happy Steels SME IPO Subscription
ListedUpdated 16 July 2026, 9:15 AM IST· NSE SME
Happy Steels SME IPO subscription closed on 13 July 2026 at 77.89x overall by shares. QIB demand came in at 59.01x, NII at 113.95x, and retail at 73.25x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 14 July 2026. Listing date on NSE and BSE is 16 July 2026.
Happy Steels SME IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 9 Jul 2026 | 0.21x | 1.31x | 0.51x | 0.59x |
| Day 2 - 10 Jul 2026 | 0.63x | 5.40x | 3.61x | 3.14x |
| Day 3 - 13 Jul 2026 | 59.01x | 113.60x | 73.25x | 77.81x |
Happy Steels SME IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Happy Steels SME IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail (IND) | 73.25x | 1 in 73 |
| SHNI (Rs 2L to Rs 10L) | 80.30x | 1 in 80 |
| BHNI (above Rs 10L) | 47.63x | 1 in 48 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Happy Steels SME IPO Allotment Status page from 14 July 2026 for your result.
Happy Steels SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 66.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 4.77 Cr | Rs 281.20 Cr | 59.01x |
| FII | - | Rs 16.02 Cr | - |
| DFI | - | Rs 47.52 L | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 264.70 Cr | - |
| NII | Rs 3.56 Cr | Rs 406.11 Cr | 113.95x |
| bNII (above Rs 10L) | Rs 2.38 Cr | Rs 307.20 Cr | 129.29x |
| Corporate | - | Rs 9.54 Cr | - |
| Individual | - | Rs 292.13 Cr | - |
| Other | - | Rs 5.53 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 1.19 Cr | Rs 98.91 Cr | 83.26x |
| Corporate | - | Rs 4.30 Cr | - |
| Individual | - | Rs 92.70 Cr | - |
| Other | - | Rs 1.90 Cr | - |
| IND | Rs 8.32 Cr | Rs 609.15 Cr | 73.25x |
| Total | Rs 16.65 Cr | Rs 1,296.46 Cr | 77.89x |
Happy Steels SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 361 | 43 | 0.12x |
| FII | - | 3 | - |
| DFI | - | 12 | - |
| Mutual Funds | - | - | - |
| Other | - | 28 | - |
| NII | 90 | 5,267 | 58.52x |
| bNII (above Rs 10L) | 60 | 2,858 | 47.63x |
| Corporate | - | 69 | - |
| Individual | - | 2,737 | - |
| Other | - | 52 | - |
| sNII (Rs 2L to Rs 10L) | 30 | 2,409 | 80.30x |
| Corporate | - | 107 | - |
| Individual | - | 2,254 | - |
| Other | - | 48 | - |
| IND | 315 | 23,074 | 73.25x |
| Total | 766 | 28,384 | 37.05x |
What Do These Subscription Numbers Mean?
77.89x overall by shares means bids covered about 78 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 59.01x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (58.52x by applications). Split: SHNI 80.30x, BHNI 47.63x by applications. SHNI and BHNI allotment is by lottery.
At 73.25x subscription by applications, about 1 in 73 retail applicants may get allotment (~1% chance per application). Retail allotment is also by lottery.
Happy Steels SME IPO GMP After Subscription
GMP for Happy Steels SME stands at Rs 10.00 today, giving an estimated listing price of Rs 76.00 per share.
A subscription of 77.89x combined with a GMP of 15.15% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Happy Steels SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Happy Steels SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 9 July 2026 |
| IPO Close Date | 13 July 2026 |
| Allotment Date | 14 July 2026 |
| Refund Initiation | 15 July 2026 |
| Share Credit to Demat | 15 July 2026 |
| Listing Date | 16 July 2026 |
| Minimum Investment | Rs 2,64,000.00 |
| Lot Size | 2000 shares |
About Happy Steels SME
Happy Steel Limited, established in 1996, is an integrated manufacturer of safety-critical, forged, and precision-machined transmission and driveline components. Operating out of a 16,577 square yard production complex in Ludhiana, Punjab, the company controls the entire metal processing value chain—encompassing raw material cutting, heavy forging, heat treatment, precise gear shaping, surface induction hardening, and grinding. Its specialized high-strength asset portfolio features finished axles, long spline shafts, and safety load-bearing spindles tailored for domestic and international original equipment manufacturers (OEMs) and Tier-I engineering suppliers across on-highway, off-highway, electric vehicle (EV), and sovereign defense application networks.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
IND - Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Happy Steels SME IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Happy Steels SME Details
Issue size, price, financials, and company info
Happy Steels SME GMP
Live grey market premium and listing estimate
Happy Steels SME Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Happy Steels SME Allotment
Allotment date, chances, and check by PAN
Happy Steels SME Review
SWOT, strengths, risks, and IPO review
Happy Steels SME FAQ
Common questions on dates, GMP, and allotment
Happy Steels SME Registrar
Registrar website and how to check allotment
Happy Steels SME Timeline
Open, close, allotment, and listing dates
Happy Steels SME News
Updates, blogs, and latest IPO news
Happy Steels SME IPO Subscription FAQs
What is Happy Steels SME IPO subscription status today?
Happy Steels SME IPO subscription closed on 13 July 2026 with overall subscription of 77.89x (by shares) as of 27 August 2026, 4:32 AM IST. QIB 59.01x, NII 58.52x, IND 73.25x.
What is the overall subscription of Happy Steels SME IPO?
Happy Steels SME IPO is subscribed 77.89x overall by shares at close on 13 July 2026. QIB 59.01x, NII 58.52x, and IND 73.25x.
What is Happy Steels SME IPO QIB subscription?
Happy Steels SME IPO QIB (Qualified Institutional Buyers) subscription is 59.01x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Happy Steels SME IPO IND subscription?
Happy Steels SME IPO IND subscription is 73.25x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Happy Steels SME IPO NII, SHNI, and BHNI subscription?
Happy Steels SME IPO NII subscription is 58.52x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 80.30x and BHNI (above Rs 10L) at 47.63x.
What are Happy Steels SME IPO retail allotment chances?
At 73.25x subscription by applications, about 1 in 73 retail applicants may get allotment (~1% chance per application). Allotment is by lottery.
What are Happy Steels SME IPO SHNI allotment chances?
At 80.30x subscription by applications, about 1 in 80 SHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 83.26x. Allotment chances use applications, not share volume.
What are Happy Steels SME IPO BHNI allotment chances?
At 47.63x subscription by applications, about 1 in 48 BHNI applicants may get allotment (~2% chance per application). Allotment is by lottery. Share subscription was 129.29x. Allotment chances use applications, not share volume.
When is Happy Steels SME IPO allotment date?
Happy Steels SME IPO allotment date is 14 July 2026. Check Happy Steels SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does Happy Steels SME IPO subscription close?
Happy Steels SME IPO subscription closed on 13 July 2026. No new applications are accepted after the close.
What is Happy Steels SME IPO GMP today?
Happy Steels SME IPO GMP is ₹10 today (+15.15% over issue price ₹66). See live GMP on the Happy Steels SME IPO GMP Today page.
What is Happy Steels SME IPO issue price and lot size?
Happy Steels SME IPO issue price is ₹66 per share. Lot size is 2000 shares. Minimum investment is ₹2,64,000 per lot (minimum 2 lots for SME). Issue size: ₹25.00 Cr.
When is Happy Steels SME IPO listing date?
Happy Steels SME IPO listing date is 16 July 2026 on NSE and BSE. Allotment is on 14 July 2026.
How does subscription affect Happy Steels SME IPO allotment?
In Happy Steels SME IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 77.89x overall, competition is very high.
For allotment results from 14 July 2026, visit the Happy Steels SME IPO Allotment Status page. For listing day updates on 16 July 2026, download the IPOwiz App.
Sources
We match Happy Steels SME IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.