Great listing of Happiest Minds Tech, listed at Rs 351 against Rs 166, investors' money doubles Shares of Happiest Minds Technologies stellar debut on Thursday as shares listed at Rs 351 on BSE 111 percent premium

Mumbai. On the country’s leading stock exchange BSE (Bombay Stock Exchange) Happiest Minds Technologies IPO has been listed at Rs 351 against the issue price of Rs 166. In simple words, investors have made a profit of 100 percent. Earlier, the IPO was subscribed 151 times. Its price band has been fixed at Rs 165 to Rs 166 per equity share. Let us tell you that people liked the IPO of Ashoka Suta’s company Happiest Minds (Happiest Minds Technologies hits IPO jackpot). He is a veteran of India’s information technology services industry, who has played the role of head of three big outsourcing companies. One of these is the giant company Wipro Limited and the other two are public companies. His startup company Happiest Minds got such a strong response that this IPO became India’s most successful IPO of this decade.

Great listing, investors’ money doubled in a week- The great listing of Happiest Minds has brought smiles on the faces of investors. Investors’ money has doubled in a week. Suppose an investor had invested in the IPO and got 100 shares. Their price (166 (issue price of the share) X100 (total shares)) would have been Rs 16,600. Now, after listing, the share price has become Rs 351. In this sense, the investment of Rs 16,600 has increased to Rs 35,100.

What should investors do now? Experts say that it will become expensive in terms of valuations. But, stay positive. Money is not to be made only in this IPO. Good opportunities will come in the coming days. IPOs of many companies are in the race. Short term investors should put a stoploss of ₹ 250 and exit. Keep trailing your stoploss continuously. At the same time, remain a long term investor.

Know about the share listing of Happiest Minds Technologies

The issue was subscribed 151 times- The Rs 700 crore IPO of IT services company Happiest Minds received 151 times the bids. In this IPO, bids were made for 351 crore shares, while only 2.33 crore shares were offered. This happened because people bet on the credibility of founder Ashok Suta. Investors have full faith in Ashok Suta.

What the company does-According to Happiest Mind, 97 per cent of its revenue comes from digital business, which is much higher than many companies like Infosys, Mindtree and Cognizant. These companies have an average digital revenue of 40-50 per cent. It offers digital business services, product engineering services and infrastructure management and security services.

Tags: Stock market, Stock Markets

FIRST PUBLISHED : September 17, 2020, 10:41 IST