HAPPY STEELS LIMITED

09 Jul 2026 - 13 Jul 2026 SME NSE

Min Investment

₹2,64,000.00

Price Band

₹62-₹66

Issue Size

₹17.90 Cr

Lot Size

2000 (per lot)

IPO Dates
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09 Jul 2026

Open Date

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13 Jul 2026

Close Date

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14 Jul 2026

Allotment Date

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16 Jul 2026

Listing Date

Know Before Investing

Strengths icon

  • Integrated manufacturing capabilities covering forging, heat treatment and precision machining.
  • Specialises in safety-critical, high-strength and load-bearing transmission and driveline components.
  • Strong relationships with OEMs and Tier-I suppliers supported by consistent quality and timely delivery.
  • Advanced manufacturing systems enable both high-volume production and complex customised components.
  • Supplies products across domestic and overseas markets, helping diversify its customer base and revenue.

Weaknesses icon

  • A large share of revenue comes from the top ten customers, with no long-term supply agreements in place.
  • The company depends on a limited number of suppliers, and supply disruptions could affect operations.
  • Business is largely concentrated in Punjab, Haryana and Tamil Nadu, exposing it to regional risks.
  • Workforce disruptions, labour disputes or rising wage costs could impact manufacturing operations.
  • Inability to obtain, maintain or protect its intellectual property rights may affect its brand and business.

About Happy Steels Limited

Happy Steels Limited is an integrated manufacturer of safety-critical forged and machined transmission and driveline components used in on-highway, off-highway, electric vehicle (EV), and defence applications. The company manufactures a range of products including axles, long spline shafts, spindles, and other related components that are essential for vehicle performance and safety. It primarily generates revenue from supplying these components to original equipment manufacturers (OEMs) and Tier-I suppliers in India and overseas. Its manufacturing process is integrated and covers raw material procurement, forging, heat treatment, precision machining, gear cutting, drilling, surface hardening, grinding, inspection, and packing. This enables the company to produce components with the required mechanical properties, dimensional accuracy, and consistency as per customer specifications. The company specialises in manufacturing high-strength, load-bearing components through its in-house production capabilities and stringent quality control processes.

IPO Objectives

1. Capital expenditure towards purchase of additional Plant and Machinery for our existing manufacturing unit;

2. Repayment/ Prepayment of Term Loans to Banks, and

3. General Corporate Purpose.

Company Promoters

Abhishek Garg

Deepak Garg

Parveen Garg Huf

Parveen Kumar Garg

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