The Rs seven-hundred-crore original general public offering (IPO) of Happiest Thoughts Technologies was subscribed almost a few occasions on Monday, the 1st working day of the concern.
Bulk of the bids came from specific investors with the retail trader portion having subscribed 14.6 occasions. Competent trader and rich trader portion was subscribed 8 per cent and 62 per cent respectively. Most of the bids for an IPO commonly occur on the final working day of the concern. This was the highest working day-a single subscription for an IPO this yr.
A prior IPO, of Rossari Biotech, was subscribed 60 per cent on the 1st working day. It went on to get 85 occasions subscription. Market place gamers stated Happiest Thoughts will see related oversubscription, too. The business on Friday allotted shares well worth Rs 316 crore to anchor investors. Component of the motive for the massive retail oversubscription is that