Brief on happiest minds IPO
- Founder– Ashok Soota
- Founded– August 2011
- Headquarter– Bengaluru
Happiest Minds, a Bangalore-based IT service provider, is bringing its IPO on September 7. The company’s IPO will close on September 9. Its issue price has been fixed at Rs 165-166 per share. The company will issue a fresh issue of Rs 110 crore. Thereafter, 3,56,63,585 equity is being sold to shareholders under the Offer for Sale.
Happiest minds IPO issue size
Happiest Minds is set to raise Rs 702 crore through its IPO. The company’s issue will open on 4 September for anchor investors. The IPO has a 90-share lot. That is, you have to invest in at least 90 stocks.
Who will manage the Happiest minds IPO
Happiest Minds is set to raise Rs 702 crore through its IPO. The company’s issue will open on 4 September for anchor investors. The IPO has a 90-share lot. That is, you have to invest in at least 90 stocks.Download Report
How is business?
97 percent of Happiest Minds comes from digital. This is much higher than competing companies like Infosys, Cognizant and Mindtree. Digital accounts for only 40-50 per cent of the revenue of these companies. “Digital business is growing faster than traditional business,” said Suta, the company’s founder at a virtual media briefing.
Suta said the company’s business is more in “educational tech” and “high tech” verticals. He said that his company was fully prepared to meet the challenges of coronavirus infection as 76 per cent of the business had no effect on Covid-19.
Business of happiest minds-
Happiest Minds Company works on three types of business which are as follow
1. Digital business services (DBS)
CEO- Lavanya
The DBS unit offers consulting and domain led offerings, management of the platform, digital application development & modernization, assistance in designing & testing of operations,.
2. Product engineering services (PES)
CEO- Joseph Anantharaju
The PES unit helps transform digital capabilities by making a company’s product safe and smart.
Infrastructure and Management Security Service ( IMSS)
CEO- Ram mohan
IMSS provides a start to end monitoring and management capability for customers’ applications and infrastructure. Which is a very good decision for a company
Total custmer and global prsesence
As of 31 March 2020, Happiest Mind had 157 active customers and has a global presence in countries such as the UK, US, Canada, Australia, and the Middle East. The company’s business units are assisted by 3 Centers of Excellence which are Analytics / Artificial Intelligence, Internet of Things, and Digital Business Automation. In fiscal 2020, Indian IT companies have the highest revenue-generating 96.9% by digital services
Objective of the issue Happiest minds IPO
The company has been told only two reasons to issue the Happiest Minds IPO
- To meet long term working capital requirnment
- General corporat purpose
Company Financials-
| 31 march 2018 | 31 march 2019 | 31 march 2020 | 30 june 2020 | |
|---|---|---|---|---|
| Total Assets | 386.99 Cr. | 413.52 Cr. | 508.15 Cr. | 573.08 Cr. |
| Total Revenue | 489.12 Cr. | 601.81 Cr. | 714.32 Cr. | 186.99 Cr. |
| Profit after tax | 22.47 Cr. | 14.21 Cr. | 71.71 Cr. | 50.18 Cr. |
P/E ratio of Happiest minds IPO
At present, the price to earnings ratio of the Happiest Minds company is 26.9 but its IPO at price to earnings ratio is 31.
Happiest Minds IPO all details
| Briefs | Details |
|---|---|
| Bid/Offers open on | Sep 7, 2020 |
| Bid/Offers closed on | Sep 9, 2020 |
| Issue size | 42,290,091 Eq Shares of face value Rs. 2 (aggregating up to Rs. 702.02 Cr) |
| Face value | Rs. 2 per equity share |
| IPO Price | Rs. 165 to Rs. 166 per equity share |
| Listing At | NSE/BSE Exchange |
| Fresh Issue | 6,626,506 Eq Shares of Face value Rs. 2 (aggregating up to ₹110.00 Cr |
| Offer for sell | 35,663,585 Eq Shares of face value Rs. 2 (aggregating up to Rs. 592.02 Cr) |
| P/E ratio | 31 |
| Finalization of Basis of Allotment | Sep 14, 2020 |
| Initiation of Refunds | Sep 15, 2020 |
| The credit of Shares to Demat Account | Sep 15, 2020 |
| IPO Shares Listing Date | Sep 17, 2020 |
| Market a Lot | One lot will issue 90 equity shares. |
| Minimum share order quantity | 90 Equity shares |
| Minimum Lots booking Quantity | The minimum lot booking is 1, 90 shares, the price of 90 shares is Rs. 14940 |
| Maximum Lots booking quantity | The maximum lot booking is 13, 1170 Shares in 13 lots, The price of 1170 shares is Rs. 194220. |
| Issue Type | Book Built Issue IPO |
Happiest Minds IPO Offer Size by Investor Category in %
- QIB- 75%
- Retail Individual Investors- 10%
- Non-Institutional Investors- 15%
Promoters Name– Ashok Soota
Condition of Happiest minds IPO in grey market
Happiest Minds Technologies is going to issue an IPO on September 7. It has a chance to subscribe till 9 September. There is a lot of discussion in the gray market about this IPO. The stock is currently operating at a 75% premium in the gray market. The price band for this stock has been kept at Rs 165-166. In the gray market, it is available at a premium of Rs 115-125.
To check the allotment status of the IPO of Happiest Minds, click on the link given after 4 pm today.
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