Happy Steels SME IPO GMP Today – Live Grey Market Premium
As of 16 Jul 2026, 8:00 AM IST, Happy Steels SME IPO GMP is ₹10, a 15.2% premium over the ₹66 upper price band, which points to an estimated listing price of about ₹76. Kostak: not available. Subject to Sauda: not available. So far the GMP has ranged from ₹0 (8 July 2026) to ₹14 (12 July 2026).
Happy Steels SME IPO is scheduled to open for subscription on July 9, 2026. The public issue aims to raise around ₹25 Cr. and is offered in a price band of ₹62 to ₹66 per share, with a market lot of 2000 shares. The day-wise GMP trend is below.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 3 Sep, 2:49 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 16 Jul 2026 | ₹ 10 | — | 15.2% | — | — |
| 15 Jul 2026 | ₹ 10 | ▼ | 15.2% | — | — |
| 14 Jul 2026 | ₹ 12 | ▲ | 18.2% | — | — |
| 13 Jul 2026 | ₹ 8 | ▼ | 12.1% | — | — |
| 12 Jul 2026 | ₹ 14 | — | 21.2% | — | — |
| 11 Jul 2026 | ₹ 14 | ▲ | 21.2% | — | — |
| 10 Jul 2026 | ₹ 7 | ▼ | 10.6% | — | — |
| 09 Jul 2026 | ₹ 8 | ▲ | 12.1% | — | — |
| 08 Jul 2026 | ₹ 0 | — | -- | — | — |
| 07 Jul 2026 | ₹ 0 | — | -- | — | — |
| 06 Jul 2026 | ₹ 0 | — | -- | — | — |
| 05 Jul 2026 | ₹ 0 | — | -- | — | — |
| 04 Jul 2026 | ₹ 0 | — | -- | — | — |
| 03 Jul 2026 | ₹ 0 | — | -- | — | — |
Happy Steels SME IPO dates
Key dates from opening to listing. Today is 3 October.
- Open 09 Jul 2026
- Close 13 Jul 2026
- Allotment 14 Jul 2026
- Refund/credit 15 Jul 2026
- Listing 16 Jul 2026
Happy Steels SME IPO expected listing price
Upper price band plus today's grey market premium.
| Issue price (upper band) | ₹66 |
|---|---|
| Current GMP | ₹ 10 |
| Listing date | 16 Jul, 2026 |
| GMP-based listing estimate | ₹76 (+15.2%) |
Disclaimer: The listing price estimate above is based purely on the current grey market premium (GMP) and is not a guaranteed prediction. GMP is an unofficial, unregulated indicator and can change significantly in the 24–48 hours before listing. Do not make investment decisions based solely on GMP.
Is Happy Steels SME IPO GMP reliable?
Grey market premium for Happy Steels SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Happy Steels SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Happy Steels SME IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Happy Steels SME IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Happy Steels SME IPO
Details about Happy Steels will be updated soon.
Frequently asked
What is the GMP of Happy Steels SME IPO?
The current Grey Market Premium (GMP) of Happy Steels SME IPO is ₹ 10.
What is the Kostak Price of Happy Steels SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Happy Steels SME IPO is not available.
What is the Subject to Sauda Price of Happy Steels SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Happy Steels SME IPO?
Based on the current GMP of ₹ 10, Happy Steels SME IPO is expected to list around ₹76 — approximately +15.2% above the issue price of ₹66. Grey market prices can shift before listing — treat this as an estimate only.
How did the GMP of Happy Steels SME IPO trend before listing?
The GMP of Happy Steels SME IPO was stable in its final days before listing. The GMP peaked at ₹14 on 12 July 2026. View the day-wise table above for the complete GMP history.
Explore Happy Steels SME IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
