Happiest Minds Technologies share closes 123% greater to difficulty value on itemizing day

Happiest Minds Technologies share closes 123% higher to issue price on listing day

 

Share of Happiest Minds closed Rs 205 greater at Rs 371 in opposition to its difficulty value of Rs 166 on BSE

Happiest Minds Technologies share ended 123% greater to its difficulty value submit its market debut right this moment. Share of Happiest Minds closed Rs 205 greater at Rs 371 in opposition to its difficulty value of Rs 166 on BSE.

Compared to the opening value of Rs 351, the inventory closed 5.70% or Rs 20 greater right this moment.

Total 109.73 lakh shares modified arms amounting to turnover of Rs 411.78 crore on BSE. Market cap of the agency ended at Rs 5,448 crore.  Earlier, the share listed at a premium of 111% to its difficulty value on BSE. .

The share opened at Rs 351 delivering traders return of Rs 185 or 111% in comparison with IPO value band of Rs 165-Rs 166 per fairness share. The know-how agency inventory additional rose 12.53% to intra day excessive of Rs 395 on BSE. Happiest Minds: Third greatest performer in four years after stellar itemizing positive aspects of 111%

On NSE, the share opened at Rs 350, a premium of 110.84% to the problem value of Rs 166.  The share additional rose to Rs 394.95, a achieve of 137% over IPO difficulty value.

On the final day of bidding on September 9, IPO of the IT companies agency was subscribed 150.98 instances. The portion reserved for non-institutional traders was subscribed 351.46 instances, whereas the certified institutional consumers’ quota acquired a subscription of 77.42 instances.

The quota for retail traders was subscribed 70.94 instances The agency issued recent shares aggregating as much as Rs 110 crore, and a proposal on the market of as much as 3.56 crore fairness shares.

Happiest Minds Technologies IPO: How to examine allotment standing

The agency raised Rs 702 crore on the higher finish of the IPO value band. Promoter Ashok Soota offered 8,414,223 fairness shares and personal fairness fund CMDB-II provided 27,249,362 shares by way of the offer-for-sale route.
Applications within the IPO have been made in lots measurement of 90 fairness shares and in multiples of 90 scrips thereafter. The Bengaluru-based firm plans to make use of the online proceeds from the recent difficulty to fulfill long-term working capital requirement and normal company functions. The shares have been listed on BSE and NSE.

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