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Final Day: Happiest Minds IPO subscribed 151 times, HNIs 351 times

Happiest Minds is a small sized IT services company promoted by Ashok Soota who was one of the founding members of Mindtree.

September 13, 2020 / 01:03 PM IST

The Rs 702-crore initial public offering of Happiest Minds Technologies has received stellar response from all investors. The issue has subscribed 150.98 times so far on September 9, the last day of bidding.

The public issue has got bids for over 351 crore equity shares against offer size of over 2.3 crore equity shares, the data available on exchanges showed.

The portion set aside for retail investors has subscribed 70.94 times, while the reserved portion of non-institutional investors witnessed 351.4 times subscription and that of qualified institutional buyers 77.42 times.

The IPO comprises a fresh issue of Rs 110 crore and an offer for sale of 3,56,63,585 equity shares by promoter Ashok Soota and JP Morgan-backed private equity fund CMDB II.