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Happy Square Outsourcing Services Ltd

Miscellaneous

Offer Period :

3rd to 7th Jul 2025

Happy Square Outsourcing Services Ltd IPO Details

IPO Date 3rd to 7th Jul 2025 Minimum Investment ₹243200 / 2 Lots
Listing Date 2025-07-10 Maximum Investment ₹0 / 0 Lots
Face Value ₹10 per share Total Issue Size ₹24.25 Crores
Price ₹76 to ₹76 per share Fresh Issue ₹24.25 Crores
Lot Size 1 Lots (3200 Shares) Offer For Sale ₹ [-]
Listing At NSE-SME Retail Discount ₹ 0
Employee Discount ₹0 per Share Shareholding Pre Issue 8410000 Shares
Issue Type Book Building - SME Shareholding Post Issue 11600400 Shares
IPO Date 3rd to 7th Jul 2025
Listing Date 2025-07-10
Face Value ₹10 per share
Price ₹76 to ₹76 per share
Lot Size 1 Lots (3200 Shares)
Listing At NSE-SME
Total Issue Size ₹24.25 Crores
Employee Discount ₹0 per share
Issue Type Book Building - SME
Minimum Investment ₹243200 / 2 Lots
Maximum Investment ₹0 / 0 Lots
Fresh Issue ₹24.25 Crores
Offer For Sale ₹[-] Crores
Retail Discount ₹0 Crores
Shareholding Pre Issue 8410000 Shares
Shareholding Post Issue 11600400 Shares

About Happy Square Outsourcing Services Ltd IPO

Incorporated in April 2017, Happy Square Outsourcing Services Ltd is engaged in technology-driven human resource outsourcing. The company offers end-to-end HR solutions, including recruitment, payroll management, onboarding, and flexible staffing. Headquartered in Jabalpur and ISO 9001:2015 certified, it leverages a wide talent pool and a robust digital framework to cater to workforce needs in both Indian and US markets. As of July 31, 2024, the company had 4,225 personnel deployed at client locations and a team of 151 departmental employees managing operations.
 

With over 500 clients across India as of the date of the Red Herring Prospectus, Happy Square has built a significant presence in the staffing industry. The promoters, Shraddha Rajpal and Nalini Rajpal, bring more than a decade of combined experience, contributing to the company’s structured approach and continued growth. By March 31, 2025, the company’s deployed personnel had increased to 5,802, reflecting its expanding service footprint.

Founding Year: 2017

Managing Director: Poonam Rajpal.

Happy Square Outsourcing Services Limited Timeline

Important dates for allocation and IPO listing.

3rd Jul

IPO Opens

7th Jul

IPO Close

8th Jul

Allotment Date

9th Jul

Initiation of Refund

9th Jul

Credit of Shares to Demat Account

10th Jul

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 84 60.89
Public Group 16 39.11

Happy Square Outsourcing Services Ltd IPO Reservation

QIB Shares Offered 579200(18.15%)
NII (HNI) Shares Offered 436800(13.69%)
Retail Shares Offered 1017600(31.9%)
Anchor Investor Shares Offered 868800(27.23%)
Total Shares Offered 3190400
Total Shares With Anchor Investor 3190400

Happy Square Outsourcing Services Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 3200 ₹243200
Retail (Max) 0 0 ₹0
S HNI (Min) 1 3200 ₹243200
S HNI (Max) 4 12800 ₹972800
B HNI (MIN) 5 16000 ₹1216000

Happy Square Outsourcing Services Ltd IPO Anchor Investor Details

Bid Date 02 July 2025
Shares Offered 0
Anchor Portion Size 0

Happy Square Outsourcing Services Ltd IPO Registrar

Purva Sharegistry (I) Pvt Ltd
Phone Number 91 224 961 4132
Email Id newissue@purvashare.com
Our Website www.purvashare.com

Happy Square Outsourcing Services Ltd IPO Lead Manager

1. Corpwis Advisors Pvt Ltd

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Happy Square Outsourcing Services Ltd Financial Information

Period Ended March 31, 2025 March 31, 2024 March 31, 2023
Net Worth ₹12.48 ₹6.57 ₹2.14
Reserves and Surplus ₹4.07 ₹6.56 ₹2.13
Total Borrowing ₹14.59 ₹10.98 ₹6.57

Happy Square Outsourcing Services Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 579200 4147200 7.1602
Non Institutional Investors (NIIs) 436800 1270400 2.9084
NII(Bid amount of more than Ten Lakh Rupees) 291200 1065600 3.6593
NII(Bid amount of more than 2 Lakh < 10 Rupees) 145600 204800 1.4066
Retail Individual Investors (RIIs) 1017600 2163200 2.1258
Total 2321600 7580800 3.2653

Strength of Happy Square Outsourcing Services Ltd

1. Customer Satisfaction and long-standing relationships with its customers.

2. Experienced Promoter and Management Expertise.

3. Scalable Business Model.

4. Catering to diversified industrial verticals.

5. Strong financial position and good track record of financial performance.

Risks Involved

1. Its may be unable to perform background verification procedures on its staffed personnel prior to placing them with the company clients.

2. We may be exposed to risks and costs associated with protecting the integrity and security of our systems as well as our clients' operational and other confidential information.

3. Our Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact our growth and business.

4. Our businesses are subject to various operational risks and any adverse incident or accident involving employees in our businesses may adversely affect our reputation, business, results of operations and financial condition.

5. An inability to recruit, train and retain qualified and experienced personnel who meet the staffing requirements of our clients may adversely affect our reputation, business prospects and future financial performance.

6. Our business is subject to extensive government regulation, which may restrict the types of services we are permitted to offer or result in additional tax or other costs that reduce our revenues and earnings.

7. India has stringent labour legislations that protect the interests of workers, and if our employees unionize, we may be subject to industrial unrest, slowdowns and increased wage costs.

8. Some of our contracts are with the Government of India or government agencies and we may face certain inherent risks associated with government contracts.

9. Our Group Companies, White force Outsourcing Services Private Limited and Happiest Resume Services Private Limited may have conflict of interest with us as it is engaged in similar business and may compete with us.

10. Our Company is reliant on the demand from certain industries for a significant portion of our revenue. Any downturn in such industries or an inability to increase or effectively manage our sales could have an adverse impact on our Company's business and results of operations.

Why should you invest in

-

Happy Square Outsourcing Services Ltd Financials

Particulars For the financial year ending (in ₹ million)
 
Total Assets
Total Liabilities
Total Expenses
Total Revenue 
Profit After Tax
EBITDA
Adjusted EBITDA

Happy Square Outsourcing Services Limited IPO Contact Details

Happy Square Outsourcing Services Limited
Phone Number +91 761 4083 591
Email Id info@white-force.com
Address No.240 Nagpur Road Madan Mahal, , Jabalpur, Madhya Pradesh, 482008
Our Website www.white-force.com

Happy Square Outsourcing Services Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2025-07-10 94497 WHITEFORCE
INE0TLP01015
₹76 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹76 ₹76
Open ₹0 ₹77
Low ₹0 ₹77
High ₹0 ₹80.85
Low ₹0 ₹77

Industry Outlook of Happy Square Outsourcing Services IPO

  • The Indian staffing and recruiting market is currently valued at USD 18.5 billion, based on a five-year retrospective analysis.

  • Demand for flexible staffing is rising across sectors such as IT, manufacturing, and BFSI.

  • Temporary staffing is increasingly preferred due to shifting business needs and project-based hiring models.

  • The adoption of digital recruitment technologies has contributed to market expansion.

  • Staffing solutions have become an integral part of workforce management strategies for many organisations.

  • In FY 2023-24, the general staffing segment witnessed 16.2% year-on-year growth.

  • Quarter-on-quarter growth for general staffing in Q4 of FY 2023-24 was recorded at 2.4%.

  • The flexi staffing segment reported a 15.3% growth in FY 2023-24


 Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Happy Square

Frequently Asked Questions

What is Happy Square Outsourcing Services Ltd IPO?

Answer Field

Happy Square Outsourcing Services Ltd IPO is a SME IPO of 31,90,400 equity shares of a face value of ₹10 aggregating up to ₹24.25 Crores. The issue is priced at ₹76 to ₹76 per share. The minimum order quantity is 3200 Shares. The IPO opens on July 03, 2025, and closes on July 07, 2025. Purva Sharegistry (I) Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE-SME.

When Happy Square Outsourcing Services Ltd IPO will open?

Answer Field

The Happy Square Outsourcing Services Ltd IPO opens on July 03, 2025 and closes on July 07, 2025.

What is the lot size of Happy Square Outsourcing Services Ltd?

Answer Field

Happy Square Outsourcing Services Ltd lot size is 3200 shares, and the minimum amount required is ₹2,43,200.

How to apply for Happy Square Outsourcing Services Ltd IPO?

Answer Field

You can apply in Happy Square Outsourcing Services Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Happy Square Outsourcing Services Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Happy Square Outsourcing Services Ltd IPO will be done on July 08, 2025, and the allotted shares will be credited to your demat account by July 09, 2025.

When is Happy Square Outsourcing Services Ltd IPO listing date?

Answer Field

The Happy Square Outsourcing Services Ltd listing date is July 10, 2025.

Who is the registrar of Happy Square Outsourcing Services Ltd IPO?

Answer Field

The registrar of Happy Square Outsourcing Services Ltd IPO is Purva Sharegistry (I) Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Corpwis Advisors Pvt Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Happy Square Outsourcing Services Ltd IPO?

Answer Field

The fresh issue size is ₹24.25 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Happy Square Outsourcing Services Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 3200 shares and ₹2,43,200 amount.

How can I approve the UPI mandate request for Happy Square Outsourcing Services Ltd IPO?

Answer Field

To apply for Happy Square Outsourcing Services Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Happy Square Outsourcing Services Ltd?

Answer Field

The price of each Happy Square Outsourcing Services Ltd share will be ranging in between ₹76 to ₹76 per share.

What is the cut-off time for the UPI mandate for Happy Square Outsourcing Services Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, July 07, 2025.

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