Happiest Minds Technologies IPO Subscribed 151 Times On Final Day Of Bidding
The initial public offer of IT services firm Happiest Minds Technologies was subscribed 151 times on the third and final day of bidding on Wednesday.
The Rs 702-crore IPO, received bids for 351.1 crore shares against the total issue size of 2.32 shares, according to data by Axis Capital. The issue is closed now.
The category for institutional buyers was subscribed 77.43 times, while non-institutional investors portion received 351.46 times subscription. Retail segment was subscribed 70.94 times.
The price band for the offer, that closed today, has been fixed at Rs 165 to Rs 166 per equity share.
The 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. On the upper end of the price band, the IPO will fetch Rs 702 crore.
The company, promoted by Ashok Soota, has raised Rs 316 crore from anchor investors.
The Bengaluru-based company's shares are proposed to be listed on the BSE and the NSE.
ICICI Securities and Nomura Financial Advisory and Securities (India) are the managers for the offer.
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