Comparison between Fusion Klassroom Edutech IPO and Happy Steels IPO.
Fusion Klassroom Edutech IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Happy Steels IPO is a SME Bookbuilding proposed to list at NSE SME.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Narnolia Financial Services Ltd. | Master Capital Services Ltd. Share India Capital Services Pvt.Ltd. |
| Registrar | Maashitla Securities Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | PUNE E-STOCK BROKING Ltd. | Share India Securities Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL |
The total issue size of Fusion Klassroom Edutech IPO is up to ₹37.08 Cr whereas the issue size of the Happy Steels IPO is up to ₹23.75 Cr. The final issue price of Fusion Klassroom Edutech IPO is and of Happy Steels IPO is ₹66.00 per share.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹151.00 per share | ₹62.00 per share |
| Issue Price (Upper) | ₹159.00 per share | ₹66.00 per share |
| Issue Price (Final) | ₹66.00 per share | |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 800 shares | 2000 shares |
| Fresh Issue Size | 18,66,200 shares | 35,98,000 shares |
| Fresh Issue Size (Amount) | up to ₹29.67 Cr | up to ₹23.75 Cr |
| OFS Issue Size | 4,65,800 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹7.41 Cr | up to ₹0.00 Cr |
| Issue Size Total | 23,32,000 shares | 35,98,000 shares |
| Issue Size Total (Amount) | up to ₹37.08 Cr | up to ₹23.75 Cr |
Fusion Klassroom Edutech IPO opens on Jul 31, 2026, while Happy Steels IPO opens on Jul 09, 2026. The closing date of Fusion Klassroom Edutech IPO and Happy Steels IPO is Aug 04, 2026, and Jul 13, 2026, respectively.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |
|---|---|---|
| Anchor Bid Date | Jul 30, 2026 | Jul 08, 2026 |
| Issue Open | Jul 31, 2026 | Jul 09, 2026 |
| Issue Close | Aug 04, 2026 | Jul 13, 2026 |
| Basis Of Allotment (Tentative) | Aug 05, 2026 | Jul 14, 2026 |
| Initiation of Refunds (Tentative) | Aug 06, 2026 | Jul 15, 2026 |
| Credit of Share (Tentative) | Aug 06, 2026 | Jul 15, 2026 |
| Listing date (Tentative) | Aug 07, 2026 | Jul 16, 2026 |
| Anchor Lockin End date 1 | Sep 04, 2026 | Aug 13, 2026 |
| Anchor Lockin End date 2 | Nov 03, 2026 | Oct 12, 2026 |
Fusion Klassroom Edutech IPO P/E ratio is , as compared to Happy Steels IPO P/E ratio of 9.76.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)Fusion Klassroom Edutech Ltd.'s revenue increased by 129% and profit after tax (PAT) rose by 162% between the financial year ending with March 31, 2026 and March 31, 2025.
| Company Financials (Restated)Happy Steels Ltd.'s revenue increased by 17% and profit after tax (PAT) rose by 203% between the financial year ending with March 31, 2026 and March 31, 2025.
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| Promoter Shareholding (Pre-Issue) | 55.07 | 99.33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 39.53 | 72.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 9.76 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹94.29 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 53.45 | 19.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 45.60 | 20.89 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.19 | 1.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.77 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 53.45 | 17.76 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Fusion Klassroom Edutech IPO Retail Individual Investors (RII) are offered 8,17,600 shares while in Happy Steels IPO retail investors are offered 8,17,600 shares. Qualified Institutional Buyers (QIB) are offered 4,64,800 shares in Fusion Klassroom Edutech IPO and 7,22,000 shares in Happy Steels IPO.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |
|---|---|---|
| Anchor Investor Reservation | 6,96,800 shares | 10,76,000 shares |
| Market Maker Reservation | 1,23,200 shares | 1,90,000 shares |
| QIB | 4,64,800 shares | 7,22,000 shares |
| NII | 3,52,800 shares | 5,40,000 shares |
| RII | 8,17,600 shares | 12,60,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 23,32,000 shares | 35,98,000 shares |
Fusion Klassroom Edutech IPO subscribed in total, whereas Happy Steels IPO subscribed 54.54x.
| Fusion Klassroom Edutech IPO | Happy Steels IPO | |
|---|---|---|
| QIB (times) | 59.01x | |
| NII (times) | 113.60x | |
| Big NII (times) | 128.77x | |
| Small NII (times) | 83.26x | |
| RII (times) | 73.25x | |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 54.54x |
