| IPO Date | July 3, 2025 to July 7, 2025 |
| Listing Date | July 10, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 72 to ₹ 76 / Share |
| Lot Size | 1600 Shares |
| Total Issue Size | 31,90,400 shares (Aggregating up to ₹24.25 Cr) |
| Fresh Issue | |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share holding pre issue | 84,10,000 shares |
| Share holding post issue | 1,16,00,400 shares |
| Market Maker portion | 2,88,000 shares |
Happy Square Outsourcing Services Ltd (White Force IPO opens on July 3, 2025, and closes on July 7, 2025.
| IPO Open Date | July 3, 2025 |
| IPO Close Date | July 7, 2025 |
| Basis of Allotment | July 8, 2025 |
| Initiation of Refunds | July 9, 2025 |
| Credit of Shares to Demat | July 9, 2025 |
| Listing Date | July 10, 2025 |
| Cut-off time for UPI mandate confirmation | July 7, 2025 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | Rs.121,600 |
| Retail (Max) | 1 | 1,600 | Rs.121,600 |
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) | 2 | 3,200 | Rs.243,200 |
| Share Holding Pre Issue | 84.00% |
| Share Holding Post Issue | 60.89% |
White Force IPO offers total 31,90,400 shares. Out of which 14,48,000 (45.39%) allocated to QIB, 5,79,200 (18.15%) allocated to QIB, 4,36,800 (13.69%) allocated to NII, 10,17,600 (31.90%) allocated to RII and 8,68,800 (27.23%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | 2,88,000 9.03% |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 14,48,000 45.39% |
|
| NII (HNI) Shares Offered | 4,36,800 13.69% |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 10,17,600 31.90% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 31,90,400 100% |
White Force IPO raises ₹6.60 crore from anchor investors. White Force IPO Anchor bid date is July 2, 2025.
| Bid Date | 2025-07-02 |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | 6.60 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 7, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 6, 2025 |
Happy Square Outsourcing Services, which was founded in April 2017, is an HR outsourcing company that focuses on hiring, payroll, onboarding, and flexible workforce. The business specializes in end-to-end solutions and is a tech-based human resource outsourcing company.
Recruitment, payroll, onboarding, and flexible staffing are among the services offered by the organization.
The business holds an ISO 9001:2015 certification. With a focus on technology-based solutions and a wide network to find qualified candidates, the company leverages a sizable talent pool to meet staffing needs for companies in the US and India. It also serves as a third-party provider for workforce management through strong HR and recruitment capabilities.
| KPI | Values |
|---|---|
| ROE | 61.97% |
| ROCE | 57.75% |
| Debt/Equity | 1.17 |
| RoNW | 61.97% |
| P/BV | 5.12 |
| PAT Margin (%) | 6.06% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.02 | 5.09 |
| P/E (x) | 10.83 | 14.93 |
Happy Square Outsourcing Services Limited 240, Nagpur Road, Madan Mahal, Jabalpur, Madhya Pradesh, 482008 Phone: 0761-4083591 Email: [email protected] Website: https://www.white-force.com/ |
Purva Sharegistry India Pvt Ltd Phone: +91-022-23018261/ 23016761 Email: [email protected] Website: https://www.purvashare.com/investor-service/ipo-query |
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