Happy Square Outsourcing Services Limited SME IPO Opens July 3: Key Details Inside
By Shishta Dutta | Updated at: Oct 15, 2025 06:29 PM IST
Mumbai, June 30, 2025 — Happy Square Outsourcing Services Limited (WHITEFORCE) is set to launch its SME IPO on July 3, 2025, aiming to raise ₹24.65 crore through a fresh issue.
Happy Square Outsourcing Services Limited, operating under the brand “White Force”, is tapping the capital markets with an SME IPO that opens for subscription on July 3, 2025, and closes on July 7, 2025. The company plans to issue 31,90,400 equity shares at a price band of ₹72 to ₹76 per share, aggregating to ₹24.65 crore at the upper price band.
IPO Summary
| Particulars | Details |
|---|---|
| Company Name | Happy Square Outsourcing Services Ltd |
| Ticker Symbol | WHITEFORCE |
| IPO Type | SME (NSE Emerge) |
| Issue Period | July 3, 2025 – July 7, 2025 |
| Price Band | ₹72 – ₹76 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,600 shares |
| Total Issue Size | 31,90,400 equity shares |
| Total Issue Amount (@₹76) | ₹24.65 crore |
| Listing Exchange | NSE Emerge |
| Issue Status | Forthcoming |
Key IPO Highlights
- Fixed Lot Size: Investors must bid for a minimum of one lot comprising 1,600 shares, translating to a minimum investment of ₹1,21,600 at the upper end of the price band.
- Use of Proceeds: The net proceeds from the issue are proposed to be used for working capital requirements, technology and infrastructure development, and general corporate purposes.
- SME Platform Listing: Post-issue, the shares will be listed on NSE’s SME segment (NSE Emerge).
About the Company
Happy Square Outsourcing Services Limited, known by its brand “White Force,” is a workforce outsourcing and HR solutions company catering to a range of sectors, including logistics, e-commerce, FMCG, manufacturing, and BFSI. The company has grown its presence across India by offering integrated staffing, payroll, and compliance management services.
As per its red herring prospectus, the company has reported consistent growth in business volumes and client acquisitions in the past fiscal years, highlighting increasing demand for organised manpower solutions.
Investor Takeaway
The IPO of Happy Square Outsourcing Services Ltd provides an opportunity to invest in the expanding outsourcing and manpower services space, especially with the company’s growing reach and solid industry tailwinds in India’s formal employment sector.
Investors are advised to evaluate the risk factors and consult financial advisors before investing.
REF: https://www.bseindia.com/corporates/download/352124/IPO Open/6 RHP_20231214164133.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
