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Happy Steels IPO Subscription Status

The Happy Steels IPO has been subscribed 77.89x times overall. Retail investors have shown interest with bids for 73.25x the shares available. The Non-Institutional Investor (NII) category has been subscribed 113.95x. Within NII, Big HNI (B-HNI) subscribed 129.29x and Small HNI (S-HNI) subscribed 83.26x. Qualified Institutional Buyers (QIBs) have subscribed 59.01x. Data last updated on 13 Aug, 10:44 AM.

The IPO subscription period has ended. Given the strong demand, the allotment process is expected to be highly competitive. 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.

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Live Subscription Data
Day-wise Subscription History
Allotment Probability
What Does This Subscription Data Mean?
Frequently Asked Questions

Total Subscription

77.89 x

28,384 applications

QIB 59.01x

NII 113.95x

Retail 73.25x

Live Bidding

Category	Offered	Applied	Applications	Bid Details	TIMES
Anchor Investors	10,76,000	-	-	- of 10,76,000	1.00x
QIB	7,22,000	4,26,06,000	43	4,26,06,000 of 7,22,000 43 applications	59.01x
NII	5,40,000	6,15,32,000	5,267	6,15,32,000 of 5,40,000 5,267 applications	113.95x
2.1 Big NII — bid amount above ₹10 Lakh	3,60,000	4,65,46,000	-	4,65,46,000	129.29
2.2 Small NII — bid amount ₹2–10 Lakh	1,80,000	1,49,86,000	-	1,49,86,000	83.26
Retail	12,60,000	9,22,96,000	23,074	9,22,96,000 of 12,60,000 23,074 applications	73.25x
TOTAL	25,22,000	19,64,34,000	28,384	19,64,34,000 28,384 applications -	77.89x

Last Updated: 13 Aug 2026, 10:44 AM

Subscription Insights

Retail Allotment

High demand detected. The retail category is heavily oversubscribed, making the allotment a lottery where only 1 out of every 74 applicants will be successful.

Institutional Backing

Massive institutional interest with QIBs subscribing 59.01x. This often signals long-term confidence from professional funds.

Day-wise Subscription History

Subscription trends over the last 3 days

Date	Total	QIB	NII	Retail
13 Jul 2026 DAY 3	77.89x	59.01x	113.95x	73.25x
QIB 59.01x NII 113.95x Retail 73.25x
10 Jul 2026 DAY 2	3.17x	0.63x	5.74x	3.53x
QIB 0.63x NII 5.74x Retail 3.53x
09 Jul 2026 DAY 1	0.59x	0.21x	1.31x	0.51x
QIB 0.21x NII 1.31x Retail 0.51x

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Happy Steels IPO Allotment Probability

Retail (up to ₹2 L)

1 in 37

~2.7% chance per PAN — 23,074 applicants for 630 allotment slots. Winners get exactly 1 lot (₹1.3 L) by SEBI lottery, however many lots you bid.

Small HNI (₹2–10 L)

1 in 84

~1.2% chance — based on 83.26x subscription. Lottery allots the minimum S-HNI application of 2 lots (₹2.6 L) per winner; bidding bigger doesn't improve odds.

Big HNI (above ₹10 L)

1 in 130

~0.8% chance — based on 129.29x subscription. Lottery allots the minimum B-HNI application of 8 lots (₹10.6 L) per winner; the rest is proportionate.

QIB (institutions)

59.01x

Proportionate allotment — at 59.01x, institutions receive ~1.7% of their bid. No lottery; not open to individual investors. Strong institutional endorsement.

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 IPO close date (13 Jul, 2026), the Happy Steels IPO is subscribed 77.89x times. Retail category is 73.25x, and NII is 113.95x 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 ₹10, indicating a potential listing gain of 15.2%.

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 73.25x, meaning allotment is by lottery. Statistically, approximately 1 in 74 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.

What does QIB subscription of 59.01x mean for Happy Steels IPO?

Strong — QIBs (mutual funds, FIIs, insurance companies) have subscribed 59.01x, indicating high institutional conviction. Heavy QIB demand is historically one of the strongest predictors of a positive listing.

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.