Happiest Minds Technologies makes bumper mkt debut; shares zoom over 111 pc
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 Rs 166 per share.PTI | New Delhi | Updated: 17-09-2020 11:25 IST | Created: 17-09-2020 11:17 IST
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 percent against an issue price of Rs 166 per share. The stocks of the IT services firm listed at Rs 351 apiece, reflecting a gain of 111.14 percent from the issue price on the BSE. Later, they rose to a high of Rs 395 - a jump of 137.95 percent.
On the NSE, they opened at Rs 350 apiece, zooming 110.84 percent against the issue price. The Rs 702-crore initial public offering of Happiest Minds Technologies, promoted by Ashok Soota, garnered a massive response from investors as it was subscribed to a whopping 151 times.
The price band for the offer, which closed for subscription on last Wednesday, was fixed at Rs 165-166 per equity share. ICICI Securities and Nomura Financial Advisory and Securities (India) were the managers for the offer.