Happy Square Outsourcing Services Limited (White Force)
IPO Details
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Happy Square Outsourcing Services Limited (White Force)'s completed its IPO journey with a successful listing on NSE on Jul 10, 2025. The public offering mobilized 31,90,400 Shares in total capital, comprising 31,90,400 Shares in fresh equity.
The offering was conducted within the price band of ₹72 to ₹76, with minimum application lots of 1600 shares. Investor participation during the Jul 03, 2025 to Jul 07, 2025 subscription window determined the final allocation pattern.
The basis of allotment was announced on Jul 08, 2025, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in April 2017, Happy Square Outsourcing Services operates in the human resources outsourcing industry, offering end-to-end solutions with a strong focus on recruitment, payroll, onboarding, and flexible staffing. The company is ISO 9001:2015 certified and leverages technology-driven approaches to deliver efficient HR services. With operations in both India and the United States, Happy Square caters to region-specific staffing needs by utilizing a vast talent pool and an extensive sourcing network. It acts as a third-party provider for workforce management, supported by robust recruitment and HR capabilities. As of July 31, 2024, the company had deployed 4,225 personnel across various client locations and employed 151 staff members across departments.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Strong Client Relationships: Long-term ties with clients like Cars24 and Octopolis, backed by deep engagement and efficient service delivery.
- Experienced Leadership: Promoters Shraddha and Nalini Rajpal provide strategic direction with over 10 years of industry experience.
- Scalable, Tech-Driven Model: Tech-enabled operations support business growth, sector expansion, and sustained client engagement.
- Limited Background Verification: High hiring volume and data gaps may lead to unchecked placements, risking reputation and trust.
- Inexperienced Leadership: Limited operational experience may affect strategic decisions, service consistency, and overall growth.
- Labour Law & Union Risks: Strict regulations and potential unionization could raise costs, reduce flexibility, and disrupt operations.
- Shraddha Rajpal
- Nalini Rajpal
Happy Square Outsourcing Services Limited (White Force)
Purva Sharegistry India Private Limited