Happy Steels Ltd is set to finalize share allotment for its initial public offering on Tuesday, July 14, after the subscription window closed on Monday with a reported 78 times oversubscription.
The automotive component manufacturer launched the book-building issue on July 9, pricing the shares within a band of ₹62 to ₹66 per share.
The entirely fresh issue comprises 3,788,000 equity shares, aimed at raising approximately ₹25 crore for the company’s growth initiatives.
The robust subscription level underscores continued investor interest in small-cap and SME listings in India, despite broader market volatility.
Happy Steels, which manufactures components for the automotive sector, has attracted significant retail and institutional participation, reflecting confidence in the company’s operational trajectory and the wider industrial supply chain.
The allotment process will determine the final allocation among applicants, with refunds expected to be processed for unsuccessful bidders shortly thereafter.