Happy Square Outsourcing IPO Subscribed 3.58 Times on Day 3

Happy Square Outsourcing's initial public offering (IPO) has demonstrated solid investor demand through its third and final day of subscription, with Happy Square Outsourcing's stock price set at ₹72-76 per share reflecting positive market reception.

Happy Square Outsourcing IPO qualified institutional buyers segment leads with strong 7.16 times subscription, whilst non-institutional investors demonstrate reasonable participation at 2.24 times and individual investors show solid interest at 2.12 times, reflecting positive investor confidence in this company specializing in HR outsourcing including recruitment, payroll, onboarding, and flexible staffing. 

Happy Square Outsourcing IPO subscription reached a solid 3.58 times on day three, led by QIB (7.16x), NII (2.24x), and Individual Investors (2.12x). Total applications reached 743.

Subscription Status of Happy Square Outsourcing IPO:

Here are the subscription details for Happy Square Outsourcing IPO as of Day 3 (July 7, 2025, 5:15:00 PM):

Key Highlights - Day 3: 

• Overall subscription reaching a solid 3.58 times, a significant surge from day two's 0.59 times
• QIB segment leading with strong demand at 7.16 times, dramatically increasing from day two's 0.14 times
• NII segment demonstrating reasonable participation at 2.24 times, building from day two's 0.88 times
• Individual investors showing solid interest at 2.12 times, improving from day two's 0.72 times
• The final day witnessed strong institutional participation driving overall subscription performance
• Total applications reached 743, indicating focused investor participation for this SME IPO
• The cumulative bid amount reached ₹55.36 crores against the issue size of ₹24.25 crores

Happy Square Outsourcing IPO - Day 2 Subscription at 0.59 Times

Key Highlights - Day 2:

• Overall subscription improving to 0.59 times from day one's 0.39 times
• Individual investors showing growth at 0.72 times, building momentum from day one's 0.37 times
• NII segment demonstrating steady participation at 0.88 times, slightly declining from day one's 0.94 times
• QIB segment showing minimal participation at 0.14 times, improving from day one's 0.00 times

Happy Square Outsourcing IPO - Day 1 Subscription at 0.39 Times

Key Highlights - Day 1:

• Overall subscription opening cautiously at 0.39 times, showing modest initial investor interest
• NII segment leading early participation at 0.94 times, indicating positive high-net-worth sentiment
• Individual investors showing limited early interest at 0.37 times, reflecting cautious sentiment
• QIB segment demonstrating no participation at 0.00 times, indicating reserved institutional sentiment

About Happy Square Outsourcing Services IPO

Incorporated in April 2017, Happy Square Outsourcing Services Limited specializes in tech-based human resource outsourcing focusing on end-to-end solutions including recruitment, payroll, onboarding, and flexible staffing. The company operates as an ISO 9001:2015 certified organization serving businesses in India and the US, utilizing technology-based solutions and comprehensive networks to source qualified candidates. As of July 2024, the company manages 4,225 personnel deployed at various client locations with 151 department employees.
Financial performance shows strong growth with revenue increasing 40% from ₹69.54 crores in FY2024 to ₹97.68 crores in FY2025, whilst profit after tax rose 34% to ₹5.90 crores. The company maintains impressive profitability metrics with 61.97% ROE, 57.75% ROCE, 6.06% PAT margin, and moderate debt-to-equity ratio of 1.17.