IT firm Happiest Minds more than doubles in market debut

 thehindu.com  09/17/2020 06:24:13 

The 702-crore initial public offering of Happiest Minds Technologies, promoted by Ashok Soota, garnered massive response from investors as it was subscribed a whopping 151 times.  

Shares of Happiest Minds Technologies Ltd were off to a flying start on domestic bourses on Thursday as they got listed with a premium of over 111 per cent against an issue price of 166 per share.

The stocks of the IT services firm listed at 351 apiece, reflecting a gain of 111.14 per cent from the issue price on the BSE. Later, they rose to a high of 395 - a jump of 137.95%.

On the NSE, they opened at 350 apiece, zooming 110.84% against the issue price.

The 702-crore initial public offering of Happiest Minds Technologies, promoted by Ashok Soota, garnered massive response from investors as it was subscribed a whopping 151 times.

The price band for the offer, which closed for subscription on last Wednesday, was fixed at 165-166 per equity share.

ICICI Securities and Nomura Financial Advisory and Securities (India) were the managers for the offer.

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