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Investors set to be silver with bumper premium!

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  • Happiest Minds likely to be listed this Thursday
  • Ashok Suta’s IPO was subscribed 151 times
  • If you look at the gray market, investors decide silver on the listing
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new Delhi
Happiest Minds may be listed on the stock market on Thursday. The company’s Rs 702 crore IPO was a huge hit last week. It opened on 7 September and closed on 9 September. The price range for this was kept at 165–166 rupees and it was subscribed 151 times. The company has fixed the final issue price at Rs 166.

The bidding figures for the IPO, Mindtree, are believed to be listed with Happiest Minds’ bumper premium above their issue price, given the strong management led by former co-promoter Ashok Suta and the company’s Strong Fundamental Report card.

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If we look at the last 20 such issues which have been subscribed more than 100 times, then it is found that on the first day of listing, on an average there has been a gain of 70%. The way the premium is going on on the Happiest Minds in the gray market, it is clear that investors will have silver on its listing.

Gesture of history
Salasar Techno Engineering’s Rs 36 crore IPO received 273.10 times bids in July 2017. It had given investors 139.95 per cent profit on the listing. Its issue price was Rs 108 and it opened at Rs 259.15 in the stock market. Similarly, Apollo Micro Systems’ IPO of Rs 156 crore was subscribed 248.5 times in January 2018. Its issue price was Rs 275 and it was listed at Rs 478 with a gain of 73.81 per cent.

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Happiest Minds IPO: When Ashok Suta quit Azim Premji’s job and got an hour’s worth of $ 100,000,000

Similarly in 2017, the issues of Astron Paper & Board Mill, Capacit’e Infraprojects and Central Depository Services were listed with gains of 128 per cent, 59.6 per cent and 67.78 per cent respectively. All these IPOs received bids of 170–242 times. Ujjivan Small Finance Bank (2019), Amber Enterprises India (2018), Religare Enterprises (2007) and Quess Corp (2016) had reported profits of 56.7 per cent, 37.76 per cent, 75 per cent and 57.41 per cent respectively on the listing. These issues were subscribed 144–166 times.

Last year, IRCTC’s listing benefited 101 per cent from investors. The issue was subscribed 111.9 times. In 2017 Avenue Supermart also made 102 percent profit on the listing. The issue received 104.5 times the bids.

Gray market premium
In the gray market, Happiest Minds shares have a premium of Rs 142-146. That is, its listing price can be from 308 to 312 rupees. That is Rs 166 radius price and a premium of Rs 142 to 146 on it. This means that the retail investors who will get the allotment of shares have a chance to earn 88 percent profit on the listing.

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