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. The stocks of the IT services firm listed at Rs 351 apiece, reflecting a gain of 111.14 per cent from the issue price on the BSE. Later, they rose to a high of Rs 395 – a jump of 137.95 per cent.
On the NSE, they opened at Rs 350 apiece, zooming 110.84 per cent 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 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.
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