Happiest Minds IPO to open on September 7, know whether it is good for investment or not?

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

  1. To meet long term working capital requirnment
  2. General corporat purpose

Company Financials-

31 march 201831 march 201931 march 202030 june 2020
Total Assets386.99 Cr.413.52 Cr.508.15 Cr.573.08 Cr.
Total Revenue489.12 Cr.601.81 Cr.714.32 Cr.186.99 Cr.
Profit after tax22.47 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

Bid/Offers open onSep 7, 2020
Bid/Offers closed onSep 9, 2020
Issue size42,290,091 Eq Shares of face value Rs. 2
(aggregating up to Rs. 702.02 Cr)
Face valueRs. 2 per equity share
IPO PriceRs. 165 to Rs. 166 per equity share
Listing AtNSE/BSE Exchange
Fresh Issue6,626,506 Eq Shares of Face value Rs. 2
(aggregating up to ₹110.00 Cr
Offer for sell35,663,585 Eq Shares of face value Rs. 2
(aggregating up to Rs. 592.02 Cr)
P/E ratio31
Finalization of Basis of AllotmentSep 14, 2020
Initiation of RefundsSep 15, 2020
The credit of Shares to Demat AccountSep 15, 2020
IPO Shares Listing DateSep 17, 2020
Market a LotOne lot will issue 90 equity shares.
Minimum share order quantity90 Equity shares
Minimum Lots booking QuantityThe minimum lot booking is 1, 90 shares, the price of 90 shares is Rs. 14940
Maximum Lots booking quantityThe maximum lot booking is 13, 1170 Shares in 13 lots, The price of 1170 shares is Rs. 194220.
Issue TypeBook Built Issue IPO

Happiest Minds IPO Offer Size by Investor Category in %

  • QIB- 75%
  • Retail Individual Investors- 10%
  • Non-Institutional Investors- 15%

Promoters NameAshok 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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