Happiest Minds Technologies IPO
Happiest Minds Technologies Limited (HAPPSTMNDS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 17 September 2020.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +50.7% (likely range +20% to +78%), day's high +62.8%, chance of a gain 97%. Actual: +110.8% at the open, +137.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,26,87,028 | 98,23,12,020 | 77.4x | |
| NII (HNI) total | 63,43,513 | 2,22,95,01,690 | 351x | |
| Retail | 42,29,009 | 30,00,13,740 | 70.9x | |
| Total | 2,32,59,550 | 3,51,18,27,450 | 151x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Happiest Minds Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Ujjivan Small Finance BankDec 2019 | 111x | 473x | 49.1x | 166x | ₹771 Cr | +58.8% | +69.7% |
| Quess CorpJul 2016 | 59.0x | 392x | 34.1x | 144x | ₹411 Cr | +57.7% | +60.7% |
| CSB BankNov 2019 | 62.2x | 165x | 44.5x | 86.9x | ₹410 Cr | +41.0% | +57.3% |
| Astron Paper & Board MillsDec 2017 | 103x | 397x | 77.9x | 243x | ₹80.0 Cr | +130.0% | +141.5% |
| Central Depository Services (India)Jun 2017 | 149x | 563x | 23.8x | 170x | ₹524 Cr | +67.8% | +81.2% |
| Apollo Micro SystemsJan 2018 | 102x | 958x | 40.2x | 249x | ₹162 Cr | +69.1% | +74.5% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Happiest Minds Technologies IPO price band and lot size? ₹165–166 per share, with a lot of 90 shares, so the smallest retail bid is ₹14,940.
How many times has it been subscribed? 151x overall: QIB 77.4x, NII 351x, retail 70.9x.
How did it list? It opened at ₹350, +110.8% against the issue price of ₹166, and closed its first day +123.5%.
