Happiest Mind IPO

Happiest Minds Technologies IPO Details

About the Company

  •     The company provides the solution and methodologies for digital transformation to enterprises to increase their business efficiency.
  •     Mission Statement: “Happiest People. Happiest Customers”
  •     They offer various services including: Big Data and advanced Analytics, Artificial Intelligence & Business Process Management, Internet of Things, Cloud, Security, SDN-NFV (Software Defined Networking/Network Function Virtualization), Blockchain, Automation including RPA (Robotic Process Automation) etc.
  •     They offer these services to industries such as retail, consumer packaged goods, E-commerce, banking, Insurance, Hi-tech, Engineering R&D, Travel/Transportation.
  •     The company is Great Place to Work – Certified.
  •     Happiest Minds is headquartered in Bangalore, India with operations in the U.S., UK, The Netherlands, Australia and Middle East.
  •     As on Mar’20 the company carries 157 active customers with it.
Happiest Minds IPO

About the Issue

  • The issue comprises of fresh issue of Rs. 110 Cr and offer for sale upto 3.56 Crore Equity Shares.
  • Founder Mr. Ashok Soota will be selling 84.14 Lakh Shares while private equity investor JP Morgan Investment Management CMDB II will offload 2.72 Cr. Shares(19.43% Holding).
  • CMDB II will be exiting from the company through this IPO.
  • The company is expected to raise around Rs. 700 Cr through this issue.

Promoter and Executive Chairman of Happiest Mind Technology

Mr. Ashok Soota was previously associated with Wipro Ltd as Vice Chairman and Mindtree Ltd as its Chairman and CEO. He has been conferred with a Dataquest IT Man of the year 2017.

In Fiscal Year 2019 and 2020, 97.2% and 96.9% of their revenue was generated from digital services.

ICICI Securities and Nomura Financial Advisory and Securities India are the managers for the proposed IPO.

Happiest Minds IPO Details

IPO Detail
Issue DatesSep 07 – Sep 09, 2020
Issue Size (Fresh Issue) Rs. 700 Cr. (Approx) 
Issue Size (Offer for Sale)3,56,63,585 equity Shares
Face ValueRs. 2/- Per Share
Price BandRs. 165 – 166
Min Market Lot90 Shares
Listing PlatformNSE, BSE 
Min Investment Amt (Retail)Rs. 14,940
Max Investment Amt (Retail)Rs. 194,220

Financial Summary : Happiest Minds Technologies

Fig in ‘Cr.’
 Mar’20Mar’19Mar’18
Income
714.23601.81489.12
Expenses629.36576.2512.2
Profit After Tax (PAT)71.7114.21(22.47)

Happiest Minds Technologies IPO is an initial public offering of equity shares of value Rs. 2 per share.

The company provides the solution and methodologies for digital transformation to enterprises to increase their business efficiency.

Happiest Minds Technologies IPO will come from Sep 7 – Sep 9, 2020 and Price band is Rs. 165 – 166/- per share.

Happiest Minds Technologies IPO allotment date is Sep 15, 2020.

The listing Date of Happiest Minds Technologies IPO is Sep 17, 2020

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