ListedSMEWHITEFORCE

Happy Square Outsourcing Services IPO

Happy Square Outsourcing Services IPO is an SME IPO raising ₹24 Cr at ₹72 – ₹76 a share. It listed on 10 Jul 2025 at ₹77, +1.3% against its issue price of ₹76, and trades at ₹37 today (−51.0% since issue). It was subscribed 2.66× in total.

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₹76

Issue price

₹37

Price now

−51.0%

Since issue price

10 Jul 2025

Listed on

2.66×Subscribed (final) · all exchanges

2.7 times more demand than shares on offer

populated partly populated we hold nothing here — the tab says why

Terms of the issue

The mechanics of what is being sold. Held for every issue we track.

Price band₹72 – ₹76

Cut-off price₹76

Issue size₹24 Cr

Shares per lot1600

Minimum application₹1,21,600

Minimum quantity1600

Face value₹10

Listing exchangesNSE

ISININE0TLP01015

Bidding hours10:00 – 17:00 IST

Bidding window3 Jul 2025 – 7 Jul 2025

SME

What being an SME issue means here. SME issues list on NSE Emerge or BSE SME. They disclose less than mainboard issues, trade far more thinly, and — by regulation — the minimum application is a full lot worth roughly ₹1–1.5 lakh rather than about ₹15,000. That is why the minimum above is so much larger than for a mainboard issue.

Not here yet

Valuation against the issuer's named peers, what the fresh money funds, and the anchor-investor allocation come from reading the prospectus, which we do for current and upcoming issues — historical issues will not gain them.