# Happy Steels share price jumps 5% after muted listing on NSE SME — retained record

> Retained news record from news:india-mint-markets.

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-07-16 05:34 ingested 2026-07-16 08:06

[original source ↗](https://www.livemint.com/market/stock-market-news/happy-steels-share-price-jumps-5-after-muted-listing-on-nse-sme-11784178714990.html)

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Happy Steel share price gained as much as 5.30% on NSE in Thursday's trading session after making subdued start in the Indian stock market. The SME stock surged 5% to ₹69.50 from the issue price of ₹66. The SME stock touched an intraday high of ₹71.40.
Happy Steel share price made its stock market debut at 3% premium over the IPO price. The stock listed at ₹68 per share on Thursday.
The listing of Happy Steel IPO came below market expectations. The GMP of Happy Steel IPO was ₹10, signalling as estimated listing price of ₹76.
The ₹25 crore IPO, which was open for subscription from July 9 to July 13, received a robust response from investors, with the issue being subscribed nearly 78 times. The IPO comprised a fresh issue of 37.88 lakh equity shares and was priced in the range of ₹62 to ₹66 per share.
The company intends to use the IPO proceeds to enhance its manufacturing capacity, lower its debt burden, and strengthen its balance sheet. Of the total proceeds, ₹13.16 crore has been allocated towards capital expenditure for the purchase of additional plant and machinery at its existing manufacturing facility, while ₹4.98 crore will be utilised to repay or prepay outstanding bank term loans.
Share India Capital Services Pvt. Ltd. acted as the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. served as the registrar.
Founded in 1996, Happy Steels Ltd. is an integrated manufacturer of safety-critical forged and precision-machined transmission and driveline components. Its products cater to a wide range of industries, including on-highway and off-highway vehicles, electric vehicles (EVs), and defence. The company operates a fully integrated manufacturing process, spanning raw material procurement, forging, heat treatment, precision machining, gear cutting, drilling, surface hardening, grinding, quality inspection and packaging.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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