Happiest Minds Technologies had a stellar stock market debut on Thursday, with the IT firm’s shares closing 123 per cent above the IPO price.
Compared to the issue price of Rs 166, the stock closed at Rs 371 on the NSE, where shares worth Rs 1,945 crore changed hands.
This was the best debut for an IPO since IRCTC in October 2019, when shares of the state-owned firm gained 127 per cent on day one. Further, this was among the best day-one performances for an IT company since HCL Technologies’ listing over two decades ago.
The blockbuster listing for Happiest Minds comes on the back of huge demand during its IPO last week, which saw 151x subscription.
It was also a happy