Happiest Minds Technologies share makes stellar debut, buyers earn over 100% returns

Happiest Minds Technologies share makes stellar debut, investors earn over 100% returns

Happiest Minds Technologies share opened at Rs 351 delivering buyers return of Rs 185 or 111% in comparison with IPO value band of Rs 165-Rs 166 per fairness share

Happiest Minds Technologies share listed at a premium of 111% to its challenge value on BSE as we speak. The share opened at Rs 351 delivering buyers 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.

Total 50.98 lakh shares of the agency modified palms amounting to turnover of Rs 192.95 crore on BSE.

Market cap of the agency rose to Rs 5409 crore.

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 challenge value.    

At 10:52 am, whole 2.95 crore shares modified palms on NSE.

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

The quota for retail buyers was subscribed 70.94 occasions The agency issued contemporary 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 means of the offer-for-sale route.

Applications within the IPO had been made in so much measurement of 90 fairness shares and in multiples of 90 scrips thereafter. The Bengaluru-based firm plans to make use of the web proceeds from the contemporary challenge to fulfill long-term working capital requirement and common company functions. The shares have been listed on BSE and NSE.

Happiest Minds eighth most profitable IPO in a decade

John Show

About John Show

John is a journalist with nearly 6 years of experience. While studying journalism at the University of Tennessee, John found a passion for finding engaging stories. As a contributor to Market News Reports, John mostly covers state and national developments.

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