Happiest Minds Technologies Ltd’s IPO, which closed on Wednesday, saw a total subscription of 151 times, while Route Mobile Ltd, which closes on Friday, has been subscribed 4.21 times so far.
Both were fully subscribed on their opening day; a rare feat for most IPOs.Investors took notice that Happiest Minds derives 97% of its revenues from digital IT services such as cloud, SaaS, security, analytics and IoT, compared to 30-50% for traditional Indian IT services peers.