White Force IPO Allotment Status
White Force IPO is a book-built issue IPO, aiming to raise ₹24.25 crore. It comprises of a fresh issue of 31.90 lakh equity shares. The bidding window was open from July 3, 2025, to July 7, 2025, with the IPO allotment to be finalised on July 8, 2025. White Force is scheduled to list on NSE SME on July 10, 2025.
The IPO was priced at of ₹72-₹76 per share with a lot size of 1600 shares. The public issue received bids for 72,84,800 shares against 20,33,600 shares available, resulting in an overall subscription of 3.58 times. QIBs led the response, subscribing 7.16 times their quota, followed by NIIs at 2.24 times.
How to Check White Force IPO Allotment Status Online on NSE?
- Go to the application status page.
- Select "Equity and SME IPO bids".
- Choose "White Force" from the Issue Name dropdown.
- Provide your Application Number or PAN.
- Click on Submit.
How to Check White Force IPO Allotment Status Online on BSE?
- Go to the application status page.
- Select "Equity" under the Issue Type.
- Choose "White Force" from the Issue Name dropdown.
- Provide your Application Number or PAN.
- Click on “I am not a robot” and submit.
How to Check White Force IPO Allotment Status Online on the Registrar’s Website?
- Go to the registrar’s official website.
- Select "White Force" from the company list.
- Enter your Client ID, Application Number, or PAN.
- Click on Submit.
White Force IPO Details
White Forces' ₹24.25 crore IPO, priced at ₹72-₹76 per share, was subscribed 3.58 times overall. The IPO is an entirely a fresh issue of 31.90 lakh shares. Bidding took place from July 3 to July 7, 2025, with the White Force IPO allotment status on July 8, 2025. Retail investors subscribed 2.12 and NIIs 2.24 times. Listing is expected on July 10, 2025.
Allocation Quota for White Force
The table below breaks down the White Force share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,88,000 (8.28%) |
| QIB Shares Offered | 14,48,000 (41.63%) |
| − Anchor Investor Shares Offered | 8,68,800 (24.98%) |
| − QIB (Ex. Anchor) Shares Offered | 5,79,200 (16.65%) |
| NII (HNI) Shares Offered | 4,36,800 (12.56%) |
| Retail Shares Offered | 10,17,600 (29.25%) |
| Total Shares Offered | 34,78,400 (100.00%) |
Data Source: NSE
White Force IPO – Overall Subscription Status
| Category | Subscription (times) |
| Qualified Institutional Buyer | 7.16 |
| Non-Institutional Investors | 2.24 |
| Retail Individual Investors | 2.12 |
| Total shares | 3.58 |
Note: The subscription details are as of July 7, 2025
White Force Business Overview
Happy Square Outsourcing Services Limited is a Jabalpur-based company engaged in technology-driven human resource outsourcing. Originally incorporated as Splendid Academy Private Limited on April 20, 2017, the company underwent multiple transformations before becoming a public limited entity under its current name on August 1, 2024.
The company specialises in end-to-end HR solutions, offering services such as recruitment, payroll, onboarding, and flexible staffing. With a strong focus on technology and structured processes, Happy Square supports businesses across India in meeting their workforce requirements.
As of March 31, 2025, it had 5,802 personnel deployed across various client locations, underlining its operational scale and reach. Founded and promoted by Shraddha Rajpal and Nalini Rajpal, the company benefits from their combined experience of over 10 years in the staffing industry.
Their leadership has been instrumental in shaping Happy Square’s values and strategic direction, aiming for long-term growth in the HR outsourcing segment. The company’s approach to staffing includes a structured process of workforce planning, recruitment and selection, placement, onboarding, retention, and exit management.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 7, 2025, 9:06 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and asset management, he simplifies complex financial concepts to help investors make informed decisions through his writing.
Know More
Enjoy ₹0 Account Opening Charges
Get the link to download the App
