Happy Steels share price jumps 5% after muted listing on NSE SME

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Awaiting price reaction for this filing.

AI summary

Happy Steels listed at a 3% premium over the issue price of ₹66 on NSE SME, before climbing about 5% to ₹69.50 in intraday trade. The ₹25 crore IPO, subscribed nearly 78 times, saw a subdued listing relative to a grey market premium of ₹10 that had signalled an estimated listing price of ₹76. Proceeds will be used for capacity expansion (₹13.16 crore) and debt repayment (₹4.98 crore).