
Business Services · NSE
Incorporated in April 2017, Happy Square Outsourcing Services operates in the human resources outsourcing industry, offering end-to-end solutions with a strong focus on recruitment, payroll, onboarding, and flexible staffing. The company is ISO 9001:2015 certified and leverages technology-driven approaches to deliver efficient HR services. With operations in both India and the United States, Happy Square caters to region-specific staffing needs by utilizing a vast talent pool and an extensive sourcing network. It acts as a third-party provider for workforce management, supported by robust recruitment and HR capabilities. As of July 31, 2024, the company had deployed 4,225 personnel across various client locations and employed 151 staff members across departments.
Price Band
₹72 – ₹76
Issue Size
₹24.25 Cr
Lot Size
1600 shares
GMP
+6.6%
Est. Listing
₹81
Open
3 Jul 2025
Close
7 Jul 2025
Allotment
8 Jul 2025
Refund
9 Jul 2025
Demat Credit
10 Jul 2025
Listing
10 Jul 2025
Overall Subscription
3.27x
Total Demand
QIB Multiplier
7.16x
Institutions & Funds
NII / HNI
2.91x
High Net-Worth
Retail (RII)
0.00x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 579,200 | 4,147,200 | 7.16x |
| NIB | 436,800 | 1,270,400 | 2.91x |
| HNIs(10L +) | 291,200 | 1,065,600 | 3.66x |
| HNIs (2-10L) | 145,600 | 204,800 | 1.41x |
| RETAIL | 1,017,600 | — | 0.00x |
| Total | 2,470,400 | 6,688,000 | 3.27x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| QIB | — | 3 | 0.00x |
| NIB | — | 66 | 0.00x |
| HNIs(10L +) | — | 31 | 0.00x |
| HNIs (2-10L) | — | 35 | 0.00x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
at current GMP
Subscribed
3.27x
overall
Happy Square Outsourcing Services Limited (White Force) is bringing an initial public offering (IPO) in the Business Services sector with an aggregate issue size of ₹24.25 Crores. The shares are offered at a price band of ₹72 to ₹76 per equity share on NSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Following the close of bidding on 2025-07-07, the basis of allotment is scheduled to be finalized on 2025-07-08. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Purva Sharegistry India Private Limited) or the BSE allotment checking window.
The latest Grey Market Premium (GMP) for Happy Square Outsourcing Services Limited (White Force) IPO is ₹5 per equity share. Based on the upper price band of ₹72 to ₹76 per equity share, the estimated listing price is ₹81 (+6.6% expected listing gain).
With a lot size of 1600 shares and current GMP of ₹5, the expected profit per application lot is approx ₹8,000 (+6.6% gain). Minimum application cost is approx ₹1,21,600.
The Happy Square Outsourcing Services Limited (White Force) IPO aggregate issue size is ₹24.25 Crores with an equity price band set at ₹72 to ₹76 per equity share. The retail lot size is 1600 shares requiring a minimum capital outlay of approx. ₹1,21,600.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 3.27x (Retail: 0.00x, QIB: 7.16x, NII: 2.91x). You can track live multiples directly on our dedicated subscription page.
The basis of allotment will be published on the official registrar portal (Purva Sharegistry India Private Limited) and the BSE status verification website on or around 2025-07-08. Investors can verify status using PAN card or application number.
Happy Square Outsourcing Services Limited (White Force) shares are scheduled to list on NSE on 2025-07-10.