NSE SME Happy Steels forges a solid debut on Dalal Street

Happy Steels traded at Rs 70.95 on the NSE, a 7.50% premium to the issue price of Rs 66.

The scrip was listed at Rs 68, a 3.03% premium to the initial public offer (IPO) price. The stock is currently up 4.34% over its listing price.

The counter hit a high of Rs 71.40 and a low of Rs 68. About 14.76 lakh shares of the company changed hands at the counter.

Happy Steels' IPO was subscribed 72.43 times. The issue opened for bidding on 9 July 2026 and it closed on 13 July 2026. The price band of the IPO was fixed between Rs 62 to Rs 66 per share.

The IPO comprised fresh issue of 37,88,000 equity shares. The company intends to utilize the net proceeds for capital expenditure towards purchase of additional plant and machinery for existing manufacturing unit, repayment/ prepayment of term loans to banks and general corporate purposes.

Ahead of the IPO, Happy Steels on 8 June 2026, raised Rs 7.10 crore from anchor investors. The board allotted 10.76 lakh shares at Rs 66 per share to 3 anchor investors.

Happy Steels is an integrated manufacturer of safety-critical forged and machined transmission and driveline components for commercial vehicles, off-highway vehicles, electric vehicles and defence applications. The company operates an end-to-end manufacturing facility with capabilities spanning forging, heat treatment and precision machining, supplying high-strength components to OEMs and Tier-I suppliers in India and overseas. As of 31 May 2026, the company had a total of 403 employees.

The company recorded revenue from operations of Rs 94.64 crore and net profit of Rs 7.10 crore for the period ended 31 March 2026.

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