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Happy Square Outsourcing Services Ltd. Logo

Happy Square Outsourcing Services Ltd. IPO

Closed Bookbuilding IPO NSE SME Fresh Capital
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Issue Price ₹76
GMP —
Lot Size 1,600
Face Value ₹10
Issue Size 3,190,400 shares (aggregating up to ₹24 Cr)
Subscription —

IPO Timeline

Open Date3-Jul-25
Close Date7-Jul-25
Allotment8-Jul-25
Refund Initiation9-Jul-25
Demat Credit9-Jul-25
UPI Mandate Deadline7-Jul-25
Listing Date10-Jul-25

Category-wise Subscription

Shares offered, bid & amount
CategorySub (x)OfferedBid ForAmt (Cr)*
QIB — 1,448,000 (45%) — ₹1,100 Cr
NII (HNI) — 436,800 (14%) — ₹332 Cr
Retail — 1,017,600 (32%) — ₹773 Cr
Market Maker — 288,000 (9%) — ₹22 Cr
Σ  Total—3,190,400 (100%)—₹24,247 Cr

Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.

Issue Details

Issue Price / Price Band₹76
Face Value₹10
Lot Size1,600 shares
Issue Size3,190,400 shares (aggregating up to ₹24 Cr)
Issue TypeBookbuilding IPO
Listing ExchangeNSE SME
Sale TypeFresh Capital
Script Code—
Net Offer to Public2,902,400 shares (aggregating up to ₹22 Cr)
Amount InCrore
Stock Price History · NSE
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Minimum Investment (Lot-wise)

CategoryLotsSharesAmount (₹)
Retail (Min)11,600₹121,600
Retail (Max)1320,800₹1,580,800
S-HNI (Min)1422,400₹1,702,400
B-HNI (Min)67107,200₹8,147,200
Retail2 lot(s)3,200 shares₹243,200
S-HNI3 lot(s)4,800 shares₹364,800

Shareholding Pattern

Pre-Issue Shareholding8,410,000 shares%
Post-Issue Shareholding11,600,400 shares%
Reserved for Market Maker288,000 shares (aggregating up to ₹2 Cr)

Financial Statements Amount In Crore

Metric 31 Mar 2025 31 Mar 2024 31 Mar 2023
Revenue 98 70 53
EBITDA 9 7 3
Profit After Tax 6 4 2
Net Worth 12 7 2
Total Assets 40 28 14
Reserves & Surplus 12 7 2
Total Borrowing 15 11 7

Valuation & Key Ratios

ROE62%
ROCE58%
RONW62%
PAT Margin6%
EBITDA Margin10%
Debt/Equity1
P/BV5
Pre EPS₹7
Post EPS₹5
Pre P/E11
Post P/E15

Grey Market Premium (GMP)

— Current GMP

GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.

Objects of the Issue

  • 1 Funding of working capital requirements of the Company – 19.00
  • 2 General corporate purposes – 3.48

Company Overview

Incorporated in April 2017, Happy Square Outsourcing Services specializes in HR outsourcing, focusing on recruitment, payroll, onboarding, and flexible staffing.

The company is involved in a tech-based human resource outsourcing business focusing on end-to-end solutions.

The company's services include Recruitment, Payroll, Onboarding and flexible staffing. 

The company is an ISO 9001:2015 certified company.

The company utilizes a large talent pool to meet staffing needs for businesses in India and the US, emphasizing technology-based solutions and a comprehensive network to source qualified candidates, acting as a third-party provider for workforce management through robust recruitment and HR capabilities.

Happy Square operates in both the Indian and US markets, understanding the specific needs of each region for staffing solutions.

As of July 31, 2024, the company has 4,225 personnel deployed at various locations for its clients.

As of July 31 2024, the company had 151 department employees.

Competitive Strength

  • Customer Satisfaction and long-standing relationships with its customers.
  • Experienced Promoter and Management Expertise.
  • Scalable Business Model
  • Catering to diversified industrial verticals.
  • Strong financial position and good track record of financial performance.

Company Information

Address240, Nagpur Road Madan Mahal, Jabalpur, Madhya Pradesh, 482008