IT services company Happiest Minds Technologies has been listed in the stock market. Investors of the company became rich with the listing on Thursday.
Within two hours of listing, the company’s share price on the BSE index was at Rs 380. At the same time, it has crossed the Rs 381 level on the Nifty.
Let us tell you that the IPO of Happiest Minds came in the past. The issue price of this IPO with 90 shares lot was Rs 166. That is, the investor was required to invest at least Rs 14,850.
This is to say that the investment of people who had been allocated the IPO of Happiest Minds has more than doubled. Understand in easy language, those who would have invested Rs 1 lakh in it, their money has increased to more than 2 lakh in less than a week.
Let us know that Ashok Suta, the promoter of Happiest Minds, has been the founder of the midcap IT firm Mindtree. Ashok Suta was also associated with Wipro for 15 years.
97 percent of the company’s revenue comes from the digital wing. It is more than Infosys, Cognizant, Mindtree. The average contribution of these companies is around 40-50 per cent.
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