Happy Steels IPO, July 9 -- The initial public offering (IPO) automotive component manufacturer Happy Steels Ltd opens for public subscription today, July 9, Thursday, and will close on July 13, Monday.

Happy Steels IPO price band is set at Rs.62 to Rs.66 per share, and the IPO lot size is 2,000 shares. The minimum investment amount required by a retail individual investor is Rs.2,64,000. The company aims to raise Rs.25 crore from the book-building issue, which is entirely a fresh issue of 37.88 equity shares.

The company proposes to utilise the net issue proceeds for capital expenditure towards purchase of additional plant and machinery for the existing manufacturing unit, repayment or prepayment of term loans to banks, and for general...