It’s IPO time again: Happiest Minds soars: 111 % ROI !
After a big lull in the capital market-primary issues were not faring that good in the recent past excepting a few like IRCTC, D mart, Rossari BioTech and one or two more. By and large the investors sentiment was low as many of the IPOs fared badly on listing and the investors were less fanciful on IPOs.
But the scenario changed dramatically particularly after the Covid ‘ disaster recovery phase. Take for instance the IPO which came last week and listed yesterday. Happiest Minds ! As against the issue price of Rs 166 per share the share commanded a premium of 111 % and touched a high of Rs 391 per share on the bourses, making almost a history in the recent past as the issue was oversubscribed by 151 times!
Ashok Soota the promoter of Happiest Times, once the promoter of MindTree, has become rich overnight by making Rs 2400 cr and so also the employees became crorepathis all of a sudden.
JP Morgan company which had 20 % stake exited with a whooping sale proceeds of Rs448 cr. While Soota was not repenting for keeping the rate so low at Rs 166, repents that many investors could not get allotment due to multiple times over subscription-151 times!
Another surprising news is that Dr Reddys lab has surged to Rs 5300- a new high on vaccine with Russian collaboration, more than 10 %. All other Pharma companies also do well.
CAMS IPO issue opens today @ Rs1330 per share. Angel Broking, Chemcon Specialty Chemicals are also in the fray. Route Mobile, Asset Management IPOs are just over.
Investors are requested to take advantage of this opportunity and get benefited of course after a thorough study !
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