Root Mobile’s IPO has also been subscribed up to 3 times.
IPOs of two companies named Happiest Minds and Route Mobile have come up. The IPO of Happiest Mind came from September 7 to September 9, which has received tremendous response from investors. The IPO of Happiest Mind has been subscribed 151 times. The IPO of the same route mobile limit is subscribed up to 73 times.
For those who do not understand the IPO, let us know that there is a term in the stock market Initial Public Offer (IPO). Whenever a company has to enter the stock market, it has to bring an IPO first. For the first time, through an IPO, common people bid for the company’s shares. After this, shares are allotted. A few days later, the company is listed on the stock market and the company’s shares begin to be traded. So if you have missed the IPO and you still like the functioning of the company, then after listing, you can invest in it
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Happiest Mind Technology
Happiest Mind Technology has received tremendous love from investors. This IPO worth Rs 702 crore has been subscribed nearly 150 times. September 9 was the last chance to invest in its IPO, now it can be purchased only after listing.
Retail investors have subscribed 71 times their share while the reserve portion has been invested 351 times for institutional investors. At the same time, qualified investors have been subscribed 77 times. The price band of the issue was fixed at 165–166 per share. The demand was so high that even anchor investors had to bid at Rs 166.
Root mobile limited
The IPO of Mumbai-based communication platform Root Mobile opened on September 9. Through this, the company wanted to raise Rs 600 crore. This IPO has been subscribed 73 times as compared to Issu. The retail investor portion was fully subscribed on the first day. This company works to provide cloud service. Many subscribers are advising to subscribe to it.
