Happiest Minds lists at Rs 351, rise of 111% seen against Rs 166 on the BSE

Happiest Minds Technologies Ltd Rs 702 crore IPO lists at Rs. 350 on the NSE. It witnessed a 110.84% rise in its first trading day.
On the BSE, it listed at Rs 351, a rally of 111%.

Happiest Minds Technologies Ltd Rs 702 crore IPO lists at Rs. 350 on the NSE. It witnessed a 110.84% rise in its first trading. On the BSE, it listed at Rs 351, a rally of 111%.

Bengaluru based IT services company is a small cap, having 77.50% revenues coming from US. 

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The company has fixed final issue price at Rs 166 per share, the upper end of price band of Rs 165-166.

Resulting into hefty subscription figures for its IPO, strong management led by ex-co-promoter of Mindtree, Ashok Soota, and sound fundamental report card, Happiest Minds was already expected to list with a bumper premium over its issue price.

Happiest Minds reported profit of Rs 50.2 crore in Q1FY21 against Rs 71.7 crore in FY20, led by higher other income.