Happiest Minds Technologies' allotment status has been finalized and can be checked now. The shares may get credited to the demat accounts of eligible investors by September 16. The shares are expected to be available for trading on September 17.

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As per the subscription numbers, the basis of allotment for Happiest Minds is 47:1.

The IT services company turned out to be a major hit on D-Street with the Rs 702-crore public issue subscribed 150.98 times, making it the eighth biggest IPO of the last decade.

It was subscribed 351.5 times by non-institutional investors and 77.4 times by Qualified Institutional Buyers (QIB) during September 7-9. The retail demand for the issue was strong as well, garnering 70.94 times subscription.

So, how do you check how many shares you have been allotted? The procedure is simple, as mentioned below:

You can check the status of your bid here: ipo.alankit.com.

Choose Happiest Minds as the name of the company from the drop-down menu and enter the application number or demat account number or PAN to check if you have got any allotment.

It is to be noted that the Happiest Minds IPO name will only be available in the drop-down menu after the allotment basis has been finalised.

On BSE

You can also check your IPO allotment status on the BSE website here: https://www.bseindia.com/investors/appli_check.aspx.

Select ‘Equity’ and then from the dropdown, select ‘Happiest Minds'. Please note the company will only appear once the allotment is done.

Applicants can also visit Registrar website (KFinTech) to check status.

Note: Zerodha doesn't provide IPO allotment status. Therefore, you check it on directly on BSE or Karvy.

Most analysts were bullish on the company since 97 percent of its business comes from the digital services segment. They advised subscribing to the issue based on robust financial growth, attractive valuations and strong management.

The company, incorporated in 2011, is a Bangalore based IT service provider, which provides end-to-end solutions in the digital space. As of June 30, 2020, HMTL had 148 active customers and a presence in countries like US, UK, Australia, Canada and the Middle East. The experienced Ashok Soota was also instrumental in the growth of Mindtree Ltd, in his previous stint as its CEO.

(Inputs from PTI)

First Published:Sept 14, 2020 12:52 PM IST