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| IPO Listing At | NSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹24.25 Cr |
| Reserved for Market Maker | ₹0.00 Cr |
| Net Issue Size | ₹24.25 Cr |
| Fresh Issue | ₹22.06 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹72.00-76.00 per share |
| NSE Code | WHITEFORCE |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| Lead Managers | Corpwis Advisors Pvt.Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 3,200 shares · Multiples of 1,600 shares
Incorporated in April 2017, Happy Square Outsourcing Services specializes in HR outsourcing, focusing on recruitment, payroll, onboarding, and flexible staffing.
The company is involved in a tech-based human resource outsourcing business focusing on end-to-end solutions.
The company's services include Recruitment, Payroll, Onboarding and flexible staffing.
The company is an ISO 9001:2015 certified company.
The company utilizes a large talent pool to meet staffing needs for businesses in India and the US, emphasizing technology-based solutions and a comprehensive network to source qualified candidates, acting as a third-party provider for workforce management through robust recruitment and HR capabilities.
Happy Square operates in both the Indian and US markets, understanding the specific needs of each region for staffing solutions.
As of July 31, 2024, the company has 4,225 personnel deployed at various locations for its clients.
As of July 31 2024, the company had 151 department employees.
Competitive Strength
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Working Capital Requirement of the company | 19.00 |
| 2 | General Corporate Purposes | 3.48 |
| 3 | Issue Expenses | 1.77 |
| Total | 24.25 |
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 39.64 | 28.38 | 14.32 |
| Total Income | 97.68 | 69.54 | 52.80 |
| Profit After Tax | 5.90 | 4.39 | 1.79 |
| EBITDA | 9.45 | 6.64 | 2.85 |
| NET Worth | 12.48 | 6.57 | 2.14 |
| Reserves and Surplus | 12.47 | 6.52 | 2.13 |
| Total Borrowing | 14.59 | 10.98 | 6.57 |
| Amount in ₹ Crore | |||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 61.97% |
| ROCE | 57.75% |
| Debt / Equity | 1.17% |
| RoNW | 61.97% |
| PAT Margin | 6.06% |
| EBITDA Margin | 9.70% |
| Price to Book Value | 5.12 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.02 | 5.09 |
| P/E (x) | 10.83 | 14.93 |
| Promoter Holding | 84% | 60.89% |
| Market Cap | ₹88.16 Cr. | |
