The initial public offer (IPO) of Happy Square Outsourcing Services received bids for 7,61,600 shares as against 23,21,600 shares on offer, as per NSE data as of 17:00 hours on Thursday (3 July 2025). The issue was subscribed 0.32 times.
The issue opened for bidding on Thursday (3 July 2025) and it will close on Monday (7 July 2025). The price band of the IPO is between Rs 72 to 76 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 31,90,400 shares. The promoter and promoter shareholding will dilute to 60.89% from 84% Pre-IPO.
About 2,88,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 29,02,400 equity shares. The issue and the net issue will constitute 27.50% and 25.02% respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for funding of working capital requirements of company and for general corporate purpose.
Ahead of the IPO, Happy Square Outsourcing Services on Wednesday, 2 June 2025, raised Rs 6.60 crore from anchor investors. The board allotted 8.68 lakh shares at Rs 76 per share to 3 anchor investor.
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 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 31 May 2025, the company had 142 employees.
The company recorded revenue from operations of Rs 97.41 crore and net profit of Rs 5.90 crore for the period ended 31 March 2025.