Happy Square Outsourcing Services IPO: Offer Size, Price Band, GMP And Key Dates

Happy Square Outsourcing Services (White Force) is set to raise almost Rs 25 crore from the primary market. The company is a provider of staffing and recruitment solutions. Those who want to bid for shares in the initial public offering (IPO) must check the following details before making an investment call.

The Happy Square Outsourcing Services IPO is a book building issue of Rs 24.25 crores. It comprises a fresh issue of 31.90 lakh shares.

Retail investors can participate in the IPO by bidding for a single lot size of 1,600 shares, requiring an investment of Rs 1,15,200. High Net-Worth Individuals (HNIs) can participate in the IPO by bidding for at least three lots. It will amount to an investment of Rs 3,64,800.

The price band for the IPO is set between Rs 72 and Rs 76 per share. 

The subscription window to bid for shares is open from July 3 to July 7.  Share allotment is expected to be finalised on July 8. The company will transfer shares to the demat accounts of successful bidders on July 9 and refunds for non-allottees will be done on the same day. 

Shares of Happy Square Outsourcing Services are proposed to be listed on the NSE SME platform on July 10. 

Qualified Institutional Buyers will be offered 45.39% of the shares and retail investors will be allocated 31.90% of the issue.

Corpwis Advisors Pvt. is the book-running lead manager of the White Force IPO. Purva Sharegistry India Pvt. is the registrar and Giriraj Stock Broking Pvt. is the market maker for the issue. 

The grey market premium (GMP) for the Happy Square Outsourcing Services IPO stood at Rs 5 as of 8:36 a.m. on July 2. It indicates a listing price of Rs 81 apiece at a premium of 6.58% on the upper limit of the price band. 

Note: GMP does not represent official data and is based on speculation.

The company is a provider of recruitment, payroll and staffing solutions. It was incorporated in 2017.

Use Of Proceeds

Happy Square Outsourcing Services will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.

Financials

Happy Square Outsourcing Services reported a 34.4% year-on-year (YoY) rise in its profit after tax (PAT) to Rs 5.9 crore in FY25 from Rs 4.39 crore in FY24. Revenue from operations increased 40.58% YoY to Rs 97.41 crore in FY25 from Rs 69.29 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.