Happiest Minds Technologies' initial public offering (IPO) received a robust response. The Rs 702-crore IPO of the Ashok Soota-led company was subscribed a massive 150.98 times on the last day of bidding
The CAMS offering will see sale of 1.82 crore equity shares or 37.4 per cent stake by NSE Investments, the subsidiary of National Stock Exchange (NSE)
Happiest Minds Technologies’ initial public offering (IPO) received a robust response. The Rs 702-crore IPO of the Ashok Soota-led company was subscribed a massive 150.98 times on the last day of bidding. According to the data on the stock exchanges, Bengaluru-based IT services company IPO received bids for over 351 crore equity shares against the offer size of over 2.32 crore shares. During September 7-9, Non-Institutional Investors (NIIs) subscribed their portion 351.46 times, and Qualified Institutional Buyers (QIBs) subscribed their quota by 77.43 times. While Retail investors amassed 70.94 times subscription. According to brokerages, Happiest Minds Technologies shares are expected to be listed on BSE and NSE on September 17.
KFin Technologies Private Limited is the registrar of the Happiest Minds Technologies IPO, which is responsible for the IPO allotment and refund processing. All the investors who have placed bids for the Happiest Minds Technologies IPO can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/) when it gets declared. The investor has to select the IPO and they can enter either their application number or DPID/Client ID or PAN. After that, they have to enter the given captcha and click submit.
Alternatively, the status of the allotment can also be checked on the BSE website (https://www.bseindia.com/investors/appli_check.aspx). Investors have to select ‘equity’, and then the issue name as ‘Happiest Minds Technologie Ltd’ from the drop-down list. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.
The price band for Happiest Minds IPO was fixed at Rs 165-166 per equity share. Happiest Minds Technologies’ promoter Ashok Soota was the founding chairman and managing director of MindTree Limited. He also served as the vice-chairman of the IT bellwether Wipro. Happiest Minds Technologies was founded in 2011. ICICI Securities and Nomura Financial Advisory and Securities (India) are the managers for the offer.