White Force IPO Date, Review, Price, Allotment Details

Happy Square Outsourcing Services Limited (White Force), a quickly expanding outsourcing and business services company based in Vadodara, Gujarat, has maintained continuous financial growth and positive operational fundamentals. The Company has successfully established a good market share in the Gujarat region and is now beginning to expand across India. The IPO is priced at ₹76 per share and has a total issue size of ₹22.06 crore, and will be listed on the BSE. The competitive pricing and positive growth trend have created significant retail investor interest in the White Force IPO and they continue to look at the White Force IPO price and valuation and also compare it with other outsourcing sector companies listing.

IPO Dates for White Force

The Happy Square Outsourcing Services Limited (White Force) IPO is scheduled to open on July 3, 2025, and close on July 7, 2025. The allocation date is expected to be announced by July 8, 2025, with listing planned for July 10, 2025.

IPO Details Summary

Investors are closely monitoring the GMP of White Force IPO, which currently shows stable demand ahead of listing. This IPO is also part of the growing White Force IPO list on the BSE platform.

About Happy Square Outsourcing Services Limited

Happy Square Outsourcing Services Limited (White Force) is a growing outsourcing and business services company based in Vadodara, Gujarat. The company has shown tremendous growth in recent years and is well positioned as a partner in the business process outsourcing industry. The geographical benefit of being situated in Gujarat allows the company to attract a skilled workforce while being involved in industrial markets which has the potential of leading to growth for future expansion in India's manufacturing and services sectors.

White Force is focused on total outsourcing solutions, along with business process outsourcing, manpower services and industrial support services. The company is well positioned by developing unique operational capabilities in workforce management, client servicing, quality assurance and operational efficiencies in the competitive outsourcing market, which provides White Force robust operational advantages.

The company is raising ₹22.06 crores of capital by issuing a 100% fresh share issue in its IPO. The funds will be used for business expansion, operational infrastructure set-up, working capital requirements, brand development and strengthening corporatization of all its business segments in developing corporate business. In light of investor interest and potential as reflected in the White Force IPO GMP, the overall market sentiment is that there are huge growth opportunities in the outsourcing services business.

Financial Performance of Happy Square Outsourcing Services Limited

The company has demonstrated consistent financial performance with steady growth across key metrics:

Performance Analysis

Happy Square Outsourcing Services Limited (White Force) has an amazing growth profile asset-wise, which increased from a total of ₹8.67 crore in FY22 to ₹39.64 crore in FY25, showed good expansion for asset base growth. Turnover has also increased from ₹28.25 crore to ₹97.68 crore indicating the company has successfully captured market share and grown its services. Profit after tax increased from ₹0.25 crore to ₹5.90 crore, also a sign of superior margin gains and operational efficiencies.

Net worth went from ₹0.35 crore to ₹12.47 crore, which is made up of strong internal accruals and value. Borrowings went up from ₹3.85 crore to ₹14.59 crore at the same ratio showing responsible use of borrowing and healthy growth funding. These metrics show that White Force has been economically sustainable, and have resulted in great interest as an IPO in the outsourcing services space.

IPO Share Reservation

The IPO share allocation follows standard SEBI guidelines for SME board listings:

Know Before Investing

Know Before Investing

Strengths

Steady Growth Story:
The business has grown steadily with assets growing from ₹8.67 crores to ₹39.64 crores in the span of four years, demonstrating good business development abilities.

Strong Revenue Growth:
Revenue growth from ₹28.25 crores to ₹97.68 crores provides evidence of the company's ability to increase its market share in the competitive outsourcing industry.

Improving Profitability:
The growth in profit after tax from ₹0.25 crores to ₹5.90 crores shows excellent business execution and operational efficiency.

Strong Net Worth Growth:
The increase in net worth from ₹0.35 crores to ₹12.47 crores shows exceptional value creation and building financial strength.

Geographic Position in Gujarat:
The company benefits from being positioned in Vadodara, Gujarat, with good access to industrial markets and skilled labour across western India.

Balanced Short/Long Term Financing:
The company has a good long-term debt equity position, with the maximum potential to create sustainable growth in the long run while keeping its financial management risk at a reasonable level.

Expanding Outsourcing Market:
The company is well positioned to benefit from India's expanding outsourcing market and an increase in demand for business process services.

Strong Management:
The company's management has demonstrated and provided consistent growth in all measures from a financial perspective.

Risks

Client Concentration Risk:
Outsourcing companies often face dependent risks over key clients. These risks can threaten the company from having full revenue stability.

Competition from Established Players:
The outsourcing industry includes large national and international competitors whose competition is very intense.

Talent Acquisition and Retention:
The offshore outsourcing industry is very difficult for hiring and retaining skilled professionals.

Sensitivity to Economics:
Outsourcing services tend to be economically sensitive. When economic hardship occurs, businesses tend to look for cost savings and economies of scale.

Operational Risk:
Each outsourcing company is subject to service delivery risk, quality risk, and risk of outsourcing company customer satisfaction metrics.

Regulatory Change:
Changes in labor laws and regulations can cause operational cost increases and contribute to unsustainable business models.

Technological Disruption:
The adoption of automation and artificial intelligence disruption for outsourcing services.

How to Apply for White Force IPO?

Step-by-step guide (when IPO opens):

1. Log in to your broker app (Zerodha, Angel One, Groww, etc.)
2. Navigate to the IPO section and select the White Force IPO
3. Click "Apply"
4. Enter:
   • Lot size (minimum 1,600 shares)
   • Bid price (₹76 or select Cut-Off)
   • Your UPI ID
5. Submit the application
6. Approve the UPI mandate in your UPI app (PhonePe, GPay, etc.)

⏰ Important: The mandate must be approved before 5 PM on the same day or before the IPO closes.

How to Check White Force IPO Allotment Status?

You can check the White Force IPO allotment status through BSE and the registrar portal once the IPO opens.

Check on BSE

• Visit the BSE official website
• Navigate to the IPO Allotment Section
• Select White Force IPO
• Enter PAN number or application number
• Submit details to get the White Force IPO BSE allotment status

Check on the Registrar Portal

• Visit Purva Sharegistry India Pvt Ltd's website
• Select IPO allotment status
• Choose White Force IPO
• Enter PAN or application number
• Submit to check status

Company Address

Name: Happy Square Outsourcing Services Limited (White Force)
Address: 240, Nagpur Road, Madan Mahal, Jabalpur, Madhya Pradesh, 482008
Phone: 0761-4083591
Email: info@white-force.com
Website: www.white-force.com

IPO Registrar

Name: Purva Sharegistry India Pvt Ltd
Address: 9, Shiv Shakti Industrial Estate, JR Borica Marg, Lower Parel (East), Mumbai - 400 011
Phone: +91 22 4918 6270
Email: newissue@purvashare.com
Website: www.purvashare.com/investor-service/ipo-query

Conclusion

The Happy Square Outsourcing Services Limited (also White Force) initial public offering (IPO) represents a solid investment opportunity in India's expanding outsourcing services sector. Revenue has increased from ₹28.25 crores to ₹97.68 crores, and it generated net profits of ₹5.90 crores, demonstrating strong financial and operational performance. The offer price of ₹76 a share, with an issue size of ₹22.06 crores, is materials for a reasonable entry into the outsourcing services sector in India, where cost efficiencies and skilled and technically proficient workforce can be readily mobilized to business expansion need.

White Force is strategically located in Gujarat's industrial hub and will thus be able to use existing workforce talent in the area to service demand that has been expanding. The company has both client concentration risk and competition risk; however, this is all balanced out by its solid financials, debt load, and history of growth in revenues and profits. All of these factors make this an enticing IPO for those looking to gain exposure to the service and outsourcing sector of India's economy.

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