Happy Steels IPO share allotment in focus today: GMP, steps to check status online

Happy Steels IPO, which opened for public subscription on Thursday, 9 July, and closed on Monday, 13 July, concluded with a healthy subscription of nearly 78 times.

With the subscription period over, Happy Steels IPO share allotment is expected to be finalised on Tuesday, 14 July. Successful bidders can expect shares of the company to be credited into their demat accounts on Wednesday, 15 July, while those who do not get the allotment may receive the refunds on the same day.

Happy Steels shares are expected to list on the NSE SME on Thursday, 16 July.

Happy Steels IPO was entirely a fresh issue of 37,88,000 shares. With a price band of ₹62 to ₹66 per share, the company aimed to raise ₹25 crore for buying additional plant and machinery for its existing manufacturing unit, payment of term loans to banks, and for general corporate purposes.

Share India Capital Services Private Limited and Master Capital Services Limited were the book-running lead managers, and Bigshare Services Private Limited was the registrar of the Happy Steels IPO.

Investors who bet on the IPO can check the share allotment status online on the registrar's website. They can also check the share allotment status on the official websites of the NSE.

One can follow these steps to check the share allotment status:

Step 1: Visit the registrar's website with this direct weblink and select any one of the given servers

Step 3: Insert either the application number, beneficiary ID, or the PAN details

Your Happy Steels IPO allotment status will appear on your computer monitor or mobile phone screen.

Step 1: Go to the official website of NSE using the following link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 3: Enter your PAN and application number and hit “submit”.

According to market sources, the grey market premium (GMP) of Happy Steels stock on Tuesday morning was ₹8. Considering the upper price band of the issue of ₹66, the estimated listing price of the stock is ₹74, a premium of 12%.

Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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