Happy Steels IPO oversubscribed over 72 times with ₹62-66 band
Happy Steels, which makes auto parts, just wrapped up its IPO, and the hype was real.
The offer was oversubscribed by more than 72 times, meaning way more people wanted shares than were actually available.
Investors put in bids for nearly 200 million shares when only about 2.7 million were up for grabs.
Shares were priced between ₹62 and ₹66 each, and the whole thing was a fresh issue: no existing shares changing hands.
Happy Steels allotment set July 14
Non-institutional investors (think big individual players) led the charge, subscribing to their portion almost 114 times over. Regular retail investors weren't far behind at 73.25 times, and even institutions showed strong interest.
Allotment results drop on July 14, and if you snagged some shares, they'll debut on NSE Emerge on July 16.
The company plans to use the money raised for new machinery upgrades, loan repayments, and other business needs.