Analysts are bullish on the Bengaluru-based IT company because 97 percent of its business comes from the digital services segment
The initial public offering (IPO) of the digital services provider Happiest Minds Technologies became a major hit on D-Street on Friday when it received an overwhelming response from investors.
As per MoneyControl, the Rs 702-crore public issue was subscribed 150.98 times, making it the eighth biggest IPO of the last decade.
The IPO was subscribed 351.5 times by non-institutional investors and 77.4 times by Qualified Institutional Buyers (QIB) from 7 to 9 September.
The retail demand for the issue was also strong, receiving 70.94 times subscription.
According to The Times of India, the price band for the IPO, which open for subscription on 7 September, was fixed at Rs 165-166 per eshare.
The offer includes a fresh issuance of shares up to Rs 110 crore and an offer for sale of up to 3.65 crore shares. The report said that Happiest Minds raised Rs 316 crore from anchor investors last week.
As per CNBC-TV18, Salasar Techno Engineering holds the spot for the most subscribed IPO of the last decade, with 277.28 times subscription in its July 2017 issue.
Analysts are bullish on Happiest Minds Technologies, promoted by Ashok Soota, since 97 percent of its business comes from the digital services segment.
As per iporesearch.co.in, IPO of Happiest Minds Technologies is expected to be listed on 17 September. The basis of allotment is expected to be finalised today (14 September). The allotment is likely to be out in the second half of 15 September.
If you have subscribed to the IPO, you can check the allotment status on the official website of BSE.
How to check Happy Minds IPO allotment status:
Step 1: Go to the BSE website – https://www.bseindia.com/investors/appli_check.aspx.
Step 2: Select ‘Equity’ next to Issue Type/
Step 3: With the help of dropdown, next to Issue Name, select ‘HAPPIEST MINDS TECHNOLOGIES LIMITED.’
Step 3: Enter your application number.
Step 4: Key in your PAN number and click on the search button.
Subscribers can also check the status of their bid from ipo.alankit.com, iporesearch.co.in. They can also visit registrar website (Linkintime, Karvy) to check status.
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