The second was this week when the initial public offering of his latest startup, Happiest Minds Technologies Ltd., was oversubscribed 151 times. “The IPO got a boost from the credibility of the founder," said Abhimanyu Sofat, head of research at IIFL Securities Ltd. in Mumbai. Happiest Minds, which gets almost all of its revenue from digital services, is one of two IPOs this week to woo Indian investors. The huge demand for both the companies bodes well for India’s IPO market, which has seen only two main board offerings in 2020 despite a buoyant stock market. Digital FocusThe Happiest Minds’ shares were sold in a price range of 165-166 rupees ($2.3) a piece.

Source: Mint September 11, 2020 12:11 UTC