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
- Customer Satisfaction and long-standing relationships with its customers.
- Experienced Promoter and Management Expertise.
- Scalable Business Model
- Catering to diversified industrial verticals.
- Strong financial position and good track record of financial performance.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Funding of working capital requirements of the Company | ₹19 |
| 2 General corporate purposes | ₹3 |
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 40 | 28 | 14 |
| Revenue | 98 | 70 | 53 |
| PAT | 6 | 4 | 2 |
| EBITDA | 9 | 7 | 3 |
| Net Worth | 12 | 7 | 2 |
| Reserves | 12 | 7 | 2 |
| Total Borrowing | 15 | 11 | 7 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 1,448,000 (45%) | — |
| NII / HNI | — | 436,800 (14%) | — |
| Retail (RII) | — | 1,017,600 (32%) | — |
| Market Maker | — | 288,000 (9%) | — |
| Total | — | 3,190,400 (100%) | — |
* Amount calculated at upper price band (₹76) · ** Total includes all investor categories
- 1 Initiation of Refund 09 Jul 2025
- 2 Credit of Shares to Demat 09 Jul 2025
- Retail allocation is good at 32% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 45%.
- The IPO P/E of 15x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹7 compares to post-issue EPS of ₹5 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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