At 10:10 am, Happiest Minds shares had been buying and selling up 117.41 per cent at Rs 360.90 on BSE.
Happiest Minds Applied sciences shares made a blockbuster debut, itemizing at a premium of 111.four per cent at Rs 351 on the BSE towards the difficulty worth of Rs 166. On the NSE, shares of the Bengaluru-based digital IT companies supplier opened at Rs 350, up 110.eight per cent every vis-a-vis the difficulty worth.
At 10:10 am, the shares of Happiest Minds had been buying and selling with positive aspects of 117.41 per cent at Rs 360.90 on the BSE and up 117.47 per cent at Rs 366.45 on the NSE.
Within the course of, Happiest Minds outperformed IRCTC and DMart, which had delivered returns of just a bit over 100 per cent on debut.
Happiest Minds Applied sciences’ Rs 702-crore IPO was over-subscribed by a whopping 150.98 instances, making it one of the subscribed share choices in current historical past. The certified institutional consumers (QIBs) portion was subscribed 77.43 instances, non-institutional traders 351.46 instances and retail particular person traders, 70.94 instances.
The general public concern was open for bidding from September 7 to September 9, within the worth band of Rs 165-166 per share. The preliminary public providing included a recent concern of 0.67 crore shares and offer-for-sale of three.56 crore shares. The IPO proceeds will probably be used for long-term working capital necessities and normal company functions.
Ashok Soota is the promoter of Happiest Minds Applied sciences. Mr Soota was earlier the founding chairman and Managing Director of Mindtree, and vice-chairman of Wipro.
The Happiest Minds IPO is the third public itemizing on this calendar 12 months, after SBI Playing cards and Cost Providers’ providing in March and Rossari Biotech’s itemizing in July.
