White Force IPO under the SME IPO category is a book build issue of Rs. 24.25 Cr by Happy Square Outsourcing Services Limited. The company was founded in April 2017. It offers The organisation works in an IT-driven HR outsourcing industry, concentrating on holistic offerings.
The specific services of the company are comprised of Recruitment, Payroll, Onboarding, and flexible staffing. It is an ISO 9001:2015 certified company, which speaks to its quality commitment.
It uses a considerably large talent pool for meeting staffing requirements for various companies in India and the US, using technological approaches along with broad networks to provide a platform for skilled personnel as a third-party workforce management contractor through strong recruitment and HR services.
Happy Square serves both Indian and US markets while differentiating on region-specific requirements for staffing solutions.
White Force IPO Overview
The White Force IPO date is on 03 July 2025, and its initial public offering will end on 07 July 2025.
The Rs. 24.25 crore new SME IPO comprises an entirely fresh issue of 31.90 lac Shares. The White Force IPO price is Rs. 72 to Rs. 76 for each Share.
The White Force IPO listing date (expected) might be on Thursday, Jul 10, 2025, and listing at the NSE and SME.
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
Financing the company's operating cash needs.
Working capital requirements.
General corporate purposes.
In simple words, the P/E ratio of this IPO is 10.83x, compared with the industry’s average P/E of 40.44x, indicating an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.
IPO's Strengths
Customer loyalty and satisfaction are notable focuses of the organisation.
Promoter and management competencies are accomplished.
Adaptable business strategy.
Serving a diverse range of industries.
Strong reputation alongside solid standing in industry illustrates good historical financial metrics alongside strong continuing performance.
IPO’s Weaknesses
The company's operations depend heavily on a select group of vital clients. Operations and finances could suffer if the business lost one of these clients.
Growth often comes with diversification. The failure to manage controllable factors within the growth initiatives could disrupt operations or negatively affect future strategic business models and financial performance.
The company has large amounts of debt, and there is no guarantee that new loans can be secured under favourable terms.
White Force IPO GMP
White Force IPO GMP has not started yet as of 30 Jun 2025 at the time of writing this information..
IPO Timetable (Tentative)
The White Force (Happy Square) IPO date of opening is from Jul 03 to Jul 07, 2025, allotment on Jul 08, refund initiation on Jul 09, and listing on Jul 10, 2025.
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