Happy Steels Ltd hits NSE SME after nearly 78x oversubscription

Business Jul 16, 2026

Happy Steels Ltd. a Ludhiana-based company making precision parts for electric vehicles, defense, and more, is hitting the NSE SME platform today.

Their ₹25 crore IPO got a massive response, being oversubscribed nearly 78 times!

Shares were offered at ₹66 each, and the gray market hints at a possible listing around ₹76 (though that's just an estimate).

Happy Steels IPO funds upgrade machinery

Founded in 1996, Happy Steels runs a big facility with more than 400 employees and handles everything from forging to packaging.

The IPO funds will help upgrade machinery, clear some debt, and support future growth plans.

With this strong debut, the company is gearing up for bigger things in the high-precision manufacturing space.