PNN
Mumbai (Maharashtra) [India], July 1: Happy Square Outsourcing Services Limited, a technology driven human resource outsourcing firm headquartered in Jabalpur, Madhya Pradesh, has announced its IPO on July 03, 2025, aiming to raise ₹ 24.24 Crores, with shares to be listed on the NSE Emerge platform.
* Fresh Issue Size - 31,90,400 Equity Shares of ₹ 10 each
* Issue Size - ₹ 24.24 Crores (At Upper Price Band)
* Price Band - ₹ 72 - ₹ 76 Per Equity Share
* Lot Size - 1,600 Equity Shares
The issue size is Up To 31,90,400 equity shares at a face value of ₹ 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up to 8,68,800 Equity Shares
* Qualified Institutional Buyers (QIB) - Up to 5,79,200 Equity Shares
* Non-Institutional Investors (NII) - Up to 4,36,800 Equity Shares
* Retail Individual Investors (RII) - Up to 10,17,600 Equity Shares
* Market Maker - Up to 2,88,000 Equity Shares
The net proceeds from the issue will be utilized primarily for funding of working capital requirements of the company & general corporate purposes. The anchor portion will open on July 02, 2025. The issue will open for public on July 03, 2025 and the issue will close on July 07, 2025.
The Book Running Lead Manager to the Issue is Corpwis Advisors Private Limited. The Registrar to the Issue is Purva Sharegistry India Private Limited.
Poonam Rajpal, Managing Director of Happy Square Outsourcing Services Limited expressed, "We are very proud to announce that Happy Square Outsourcing Services Limited is taking its first step into the capital markets, driven by our vision to redefine HR solutions through innovation and expertise. We have consistently grown our business by blending technology with HR services. As a technology-driven HR outsourcing firm with extensive experience, a wide presence across the country, and a large client base, we take pride in offering end-to-end staffing solutions, catering to recruitment and workforce solutions across diverse industries such as IT, automobile, logistics, FMCG, and government services.
To strengthen our service delivery, we have developed proprietary platforms that improve efficiency and enhance client outcomes. White Force Plus, our in-house recruitment solution, features a dynamic candidate database, AI-driven tools, and automated interview reporting for faster, smarter hiring. Alongside, our White Force Payroll HRMS Portal automates payroll, compliance, and attendance functions with real-time reporting and self-service options for employees. These secure and scalable platforms help streamline HR operations and drive overall productivity.
The net proceeds of this IPO will be utilized for working capital needs, ensuring timely salary payouts for our workforce, while the remainder will support general corporate purposes, including product development and business expansion. This capital infusion will strengthen our operational capabilities and fuel our growth, helping us remain agile and competitive as we work toward becoming the partner of choice for high-quality, scalable HR solutions across India."
Nikunj Kanodia, Director of Corpwis Advisors Private Limited said, "The HR outsourcing sector in India is undergoing a major shift, with businesses increasingly seeking partners who combine technology with deep domain expertise. Happy Square Outsourcing Services Limited stands out as a forward-thinking player in this space, offering comprehensive HR solutions tailored to the evolving needs of modern enterprises.
India's staffing and HR services industry continues to witness strong momentum, driven by formalization, digitization, and the need for scalable workforce solutions across sectors like IT, logistics, e-commerce, and manufacturing. With its proven track record, wide geographic footprint, and robust client base, Happy Square is well-positioned to tap into these opportunities. We are proud to partner with the company in its IPO journey, which will help fuel its growth ambitions and strengthen its presence in the rapidly evolving HR landscape."
About The Company:
Happy Square Outsourcing Services Limited is a technology driven consulting firm specializing in human resource outsourcing. Headquartered in Jabalpur, India, the company provides end-to-end staffing solutions, catering to recruitment and workforce. With a strong value system, structured processes, and deep industry expertise, Happy Square ensures high quality HR solutions for businesses across various sectors.
In FY25, The Company Achieved a Revenue of ₹ 9,741.46 Lakhs, EBITDA of ₹ 944.67 Lakhs, & PAT of ₹ 590.34 Lakhs.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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