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Happiest Minds Technologies IPO subscribed 2.86 times, retail book 14.6 times on Day 1

The Bengaluru-based IT company has launched its Rs 702-crore public issue today and the same will close on September 9.

September 08, 2020 / 06:55 PM IST

On day one of bidding, Happiest Minds Technologies' initial public offering is seeing a good response from retail investors so far.

The public issue has seen a 2.86 times subscription so far as it has received bids for 6.67 crore equity shares against IPO size of over 2.32 crore shares (excluding anchor book), as per the data available on exchanges showed.

The reserved portion of retail investors has subscribed 14.61 times and that of non-institutional investors 61.3 percent, while the portion set aside for qualified institutional investors has seen 8 percent subscription.

The Bengaluru-based IT company has launched its Rs 702-crore public issue today and the same will close on September 9. The company already raised Rs 316 crore through anchor investors' book on September 4.