Steel Forgings - Listed on 16 July 2026
Happy Steels (Steel Forgings) closed its IPO window in 2026 and listed on NSE and BSE on 16 July 2026 at an upper band issue price of Rs 66 and closing day one at Rs 68.5 (+3.8% on closing basis). The IPO was subscribed - overall - QIB -, HNI/NII -, Retail -. The total issue size was available on this page. IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Steel Forgings
Happy Steels operates in the Steel Forgings space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Happy Steels issue was offered at an upper price of Rs 66 and raised approximately - crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 9 | +13.64% |
| Day 2 | Rs 9 | +13.64% |
| Day 3 | Rs 9 | +13.64% |
| Day 4 | Rs 9 | +13.64% |
| Day 5 | Rs 9 | +13.64% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Happy Steels IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Happy Steels IPO listed on 16 July 2026. Full listing price details are listed above.
Subscription data is listed in the Subscription breakdown section above.
IPO GMP started at Rs 9 on Day 1 and moved to Rs 9 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.