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    How to check Happiest Minds IPO allotment status

    Synopsis

    The basis for Happiest Minds' share allotment is likely to be finalised on Tuesday. The issue, which was sold from September 7 to September 9 in the price band of Rs 165-166 was subscribed 151 times.

    ETMarkets.com
    The issue was a blockbuster with qualified institutional buyers (QIBs) portion getting 77.43 times subscription, non-institutional investors 351.46 times and retail individual investors 70.94 times.
    NEW DELHI: Investors, especially retail and high-net worth individuals (HNIs), are keenly awaiting shares allotment in Happiest Minds IPO – the issue that received bids worth nearly Rs 58,294 crore (excluding anchor portion).

    The basis for Happiest Minds' share allotment is likely to be finalised on Tuesday. The issue, which was sold from Sep 7 to Sep 9 in the price band of Rs 165-166 was subscribed 151 times.

    There are expectations that the issue would yield strong investor response. The unofficial market for unlisted shares is already reflecting this sentiment with the premium on the stock staying at Rs 142-146 per share, as per Dinesh Gupta of Unlisted Zone.

    For HNIs, at the upper price band limit of Rs 166 and 351.46 times subscription, a 7-day leverage at 7 per cent interest would add Rs 78.32 to the HNI cost. The break even for HNIs would be Rs 166 plus Rs 78.32 i.e. Rs 244. Given the grey market premium, an HNIs would still make Rs 63.68-67.68 gains per share.

    The issue was a blockbuster with qualified institutional buyers (QIBs) portion getting 77.43 times subscription, non-institutional investors 351.46 times and retail individual investors 70.94 times.

    The Happiest Minds stock is expected to get listed on Thursday, Sep 17.

    Those who bade for the issue can check the subscription status on kfintech.com, the online portal of KFin Technologies Private Limited, the registrar to the IPO. The registrar to an issue is a Sebi-registered entity, qualified to act as such, and which electronically processes all applications and carries out the allotment process as per the prospectus.

    The registrar is responsible for complying with the time deadlines for updating the electronic credit of shares to successful applicants, dispatch and uploading of refunds and attending to all investor-related queries after the issue is completed.
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    1 Comment on this Story

    Narendra Mertia16 days ago
    One of the best IPO in recent time.
    The Economic Times