Happy Steels IPO Subscription Status
The Happy Steels IPO has been subscribed 3.17x times overall. Retail investors have shown interest with bids for 3.53x the shares available. The Non-Institutional Investor (NII) category has been subscribed 5.74x. Within NII, Big HNI (B-HNI) subscribed 6.49x and Small HNI (S-HNI) subscribed 4.24x. Qualified Institutional Buyers (QIBs) have subscribed 0.63x. Data last updated on 11 Jul, 04:34 PM.
It is Day 2 of subscription. The issue opened on 09 Jul, 2026 and closes on 13 Jul, 2026. The shares are expected to list on stock exchanges on 16 Jul, 2026.
Table of Contents
1,357 applications
Live Bidding
| Category | Offered | Applied | Applications | Bid Details | TIMES |
|---|---|---|---|---|---|
|
Anchor Investors
|
10,76,000 | - | - |
-
of 10,76,000
|
1.00x |
|
QIB
|
7,22,000 | 4,54,000 | 2 |
4,54,000
of 7,22,000
2 applications
|
0.63x |
|
NII
|
5,40,000 | 31,00,000 | 243 |
31,00,000
of 5,40,000
243 applications
|
5.74x |
|
Retail
|
12,60,000 | 44,48,000 | 1,112 |
44,48,000
of 12,60,000
1,112 applications
|
3.53x |
| TOTAL | 25,22,000 | 80,02,000 | 1,357 |
80,02,000
1,357 applications
-
|
3.17x |
Last Updated: 11 Jul 2026, 04:34 PM
Day 2: Mid-Subscription
Day 2 usually shows retail interest stabilizing. Watch the NII numbers; if they are rising, it confirms strong grey market interest. QIBs may still remain silent.
Retail Allotment
Subscription is above 1x. While a lottery is guaranteed, your probability of allotment is approximately 28.3% for a single lot.
Day-wise Subscription History
Subscription trends over the last 2 days
| Date | Total | ||
|---|---|---|---|
|
10 Jul 2026
DAY 2
|
3.17x
|
||
|
QIB
0.63x
NII
5.74x
Retail
3.53x
|
|||
|
09 Jul 2026
DAY 1
|
0.59x
|
||
|
QIB
0.21x
NII
1.31x
Retail
0.51x
|
|||
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Happy Steels IPO Allotment Probability
Odds marked with applicant counts are computed from the exchange's actual application data (applicants ÷ allotment slots); others assume minimum-size bids at the current subscription multiple. Retail and HNI allotment is by SEBI-mandated lottery of the minimum application when oversubscribed; QIB allotment is proportionate. Numbers move until subscription closes. This is not investment advice.
What Does This Subscription Data Mean?
IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:
- QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
- NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
- Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
- Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.
Data sourced from BSE/NSE. Subscription numbers are updated during market hours (10 AM – 5 PM IST) on active subscription days.
Frequently Asked Questions
What is the current subscription status of Happy Steels IPO?
As of 12 Jul, 2026, the Happy Steels IPO is subscribed 3.17x times. Retail category is 3.53x, and NII is 5.74x subscribed.
When is the allotment date for Happy Steels IPO?
The allotment for Happy Steels IPO is expected to be finalized on 14 July, 2026.
What is the GMP of Happy Steels?
The Grey Market Premium (GMP) for Happy Steels is currently ₹14, indicating a potential listing gain of 21.2%.
When will Happy Steels IPO list on the stock market?
Happy Steels is scheduled to list on BSE and NSE on 16 July, 2026.
What are the chances of getting allotment in Happy Steels IPO?
The retail category is oversubscribed at 3.53x, meaning allotment is by lottery. Statistically, approximately 1 in 4 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.
What does QIB subscription of 0.63x mean for Happy Steels IPO?
QIBs have subscribed 0.63x so far. Institutional participation is still building — expect movement in the final hours of subscription.
How to check Happy Steels IPO allotment status?
After the allotment date (14 Jul, 2026), you can check your Happy Steels IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.
Explore Happy Steels IPO Further
Track every stage of this IPO from subscription to listing:
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