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|
|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|
|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.
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.