After a brief lull, primary markets are going to see a lot of action in September with several upcoming IPOs. First of these is going to be Happiest Minds IPO which opens for subscription on 7 September 2020. The upcoming IPO will raise as much as INR702.01 crore through a mix of fresh shares and sale by existing investors. Headed by Ashok Soota – a veteran in Indian IT services market – the company has generated strong demand in the grey market. Check out the latest Happiest Minds IPO GMP (Grey Market Premium), Kostak rates and Subject to Sauda rates here.
Happiest Minds Technologies IPO details
| Subscription Dates | 7 – 9 September 2020 |
| Price Band | INR165 – 166 per share |
| Fresh issue | INR110 crore |
| Offer For Sale | 35,663,585 shares (INR588.45 – 592.01 crore) |
| Total IPO size | INR698.45 – 702.01 crore |
| Minimum bid (lot size) | 90 shares |
| Face Value | INR2 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
Happiest Minds IPO GMP (Grey Market Premium) rates
| Date | Grey Market Premium (GMP in INR) | Kostak (in INR) | Subject to Sauda (in INR) |
| 16 September 2020 | 145 | 200 | 9,000 |
| 15 September 2020 | 140 | 200 | 9,000 |
| 14 September 2020 | 135 | 200 | 9,000 |
| 12 September 2020 | 125 | 200 | 8,500 |
| 11 September 2020 | 115 | 200 | 7,500 |
| 10 September 2020 | 125 | 250 | 5,500 |
| 9 September 2020 | 125 | 300 | 6,500 |
| 8 September 2020 | 115 | 300 | 6,000 |
| 7 September 2020 | 105-110 | 400 | 6,500 |
| 5 September 2020 | 110 | 400 | 6,500 |
| 4 September 2020 | 115 | 400 | 6,500 |
| 3 September 2020 | 115 | 400 | 6,500 |
| 2 September | 120 | 425 | 7,000 |
| 1 September 2020 | 120 | 425 | 7,000 |
Important points about IPO grey market and IPO GMP
IPO grey market movements may change very quickly and rates may be volatile. It is risky to base an investment decision on gray market IPO rates. Please refer to our research and analysis section.
Research has shown that retail investors are strongly influenced by market sentiment and as a result, are prone to overreaction, especially when it comes to IPO investing. Place your bets wisely!
IPO GMP rates are provided as sourced from market intelligence. Please note these IPO GMP rates may be different depending on geographies and markets.
We don’t trade into grey market nor do we facilitate buying or selling of IPO forms.
IPO GMP is the rate of premium an IPO commands per share in grey market.
Kostak rate is the amount an investor gets by selling his/her IPO application in grey market. This is the amount an investor stands to gain, irrespective of allotment status.
Subject to Sauda simply reflects the amount which an investor stands to get by selling his/her application for firm allotment. The key operative word here is firm allotment. In case of no allotment to the applicant, the sauda stands cancelled.
HAPPIEST MINDS GMP 120
CAMS GMP 165
ROUTE MOBILE GMP 122
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09.09.20
*GMP ESTIMATION OF MAIN BOARD IPOs*
*ROUTE MOBILE IPO*
GMP 170 (+/- 1)
Kostak 675 (+/- 25)
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*HAPPIEST MINDS TECHNOLOGIES IPO*
GMP 110 (+/- 1)
Kostak 200 (+/- 25)
*HMT SUBSCRIPTION*
QIB*: 77.43X (*Excluding Anchor)
NII: 351.46X (Interest Cost ~78.32)
RII: 70.94X
Total: 150.98X
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*CAMS IPO*
GMP 250 (+/- 2)
Kostak 525 (+/- 25)
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UTI AMC IPO – *GMP Estimated*
GMP 60 (+/- 2)
Kostak 525 (+/- 25)
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Interesting information
CAMS IPO – *GMP Estimated*
GMP 425 +/- 5
Kostak 700 +/- 25
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Route Mobile IPO
GMP 198 +/- 2
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Happiest Minds IPO
GMP 145 +/- 1
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