Happiest Minds Technologies makes strong debut, lists at 111% premium – Times of India

NEW DELHI: Shares of Happiest Minds Technologies made a solid debut at the exchanges on Thursday as the stock got listed at Rs 351 on BSE, around 111 per cent premium over its issue price of Rs 166. Once listed, the Happiest Minds scrip went up further to hit Rs 395 in intraday trade.
On the NSE platform, the stock got listed at Rs 350, up 110.84 per cent.
The issue, which was sold between September 7 and September 9 in the price band of Rs 165-166, was subscribed 151 times. This made it one of the most subscribed offers in over a decade.
The qualified institutional buyers (QIBs) portion was subscribed 77.43 times, non-institutional investors 351.46 times and retail individual investors 70.94 times, as per the stock exchange data.
The Happiest Minds IPO offer comprises a fresh issuance of shares aggregating up to Rs 110 crore and an offer for sale of up to 3.56 crore equity shares.
The company, promoted by Ashok Soota, raised Rs 316 crore from anchor investors last week. Soota was also the founding chairman and managing director of MindTree. He had also served as vice-chairman of Wipro.
(With agency inputs)