Happy Steels IPO Subscription Status — Day-wise, QIB, NII & Retail
Happy Steels IPO subscription status shows how many times the issue was bid for, split across QIB, NII and retail categories. It was subscribed 72.43x on NSE at close (NSE + BSE combined 72.43x), as of 13 Jul 2026, 19:00 IST (NSE) — the category breakdown is below.
Subscription window: 9 Jul 2026 to 13 Jul 2026. Page data as of 11 Sep 2026.
Happy Steels subscription by category
| Category | Shares bid for |
|---|---|
| QIB | 42,606,000 |
| Foreign Institutional Investors(FIIs) | 2,428,000 |
| Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | 72,000 |
| Others | 40,106,000 |
| NII | 61,532,000 |
| bNII (above Rs 10 lakh) | 46,546,000 |
| Corporates | 1,446,000 |
| Individuals(Other than RIIs) | 44,262,000 |
| Others | 838,000 |
| sNII (Rs 2–10 lakh) | 14,986,000 |
| Corporates | 652,000 |
| Individuals(Other than RIIs) | 14,046,000 |
| Others | 288,000 |
| Total | 104,138,000 |
NSE bids only, as of 13 Jul 2026, 19:00 IST (NSE); NSE + BSE combined total 72.43x. NSE publishes bid counts but no shares-offered column for this issue, so no per-category ratio is shown; the overall figure is NSE's own. Symbol HAPPY.
Happy Steels subscription categories explained
- QIB — qualified institutional buyers (mutual funds, banks, FIIs).
- Individual investors — since July 2025 an SME application is exactly two lots (above Rs 2 lakh); this category replaced the old retail bucket and is allotted by lottery when oversubscribed.
- NII — individuals and others bidding more than two lots. The exchange's own table may still print the older labels.
How subscription affects Happy Steels allotment and GMP
The more the retail portion is oversubscribed, the lower each applicant's odds — allotment becomes a lottery for one lot. GMP is unofficial and volatile — never a forecast. See Happy Steels's GMP page and how allotment works in allotment tips.
FAQs
What is Happy Steels IPO subscription status?
Happy Steels was subscribed 72.43x on NSE (72.43x NSE and BSE combined) as of 13 Jul 2026, 19:00 IST (NSE). The table on this page breaks that down by QIB, NII and retail.
Does high subscription mean I will get Happy Steels allotment?
No — the opposite. Heavy retail oversubscription means allotment is by lottery, so your odds fall. High subscription signals demand, but does not improve your individual allotment chance.