InvestorQ : What is the final subscription update on the Happiest Minds IPO as of 09 September?
Tisha Malhotra made post

What is the final subscription update on the Happiest Minds IPO as of 09 September?

Answer
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Aashna Tripathi answered.
2 weeks ago


Ashok Soota’s Happiest Minds saw phenomenal response to its IPO. It got oversubscribed nearly 151 times by the close of the third and final day getting total bids worth Rs.58,000 crore. This would go down as one of the best performances in recent times.

The retail portion, which had seen interest from Day-1 was oversubscribed 71 times and received over 20 lakh applications. The HNI portion was oversubscribed 351 times, largely on the back of funding demand. Even the QIP portion got subscribed 77 times in all.

The Happiest Minds was looking to raise Rs 112 crore as fresh capital by way of new issue and there was an exit route via OFS to the tune of Rs.590 crore. The company specializes in digital IT services and encompasses offerings such as cloud, SaaS, security and analytics.