HAPPIEST MINDS TECH IPO is a Bangalore based IT service provider company and is all set to make a debut in the stock market with an issue size of 702.02 Cr.
IPO Overview
| Happiest Minds IPO Issue Date | 7-9 Sept 2020 |
| Happiest Minds IPO Opening Date | 7 Sept 2020 |
| Happiest Minds IPO Face Value | INR 2 per share |
| Happiest Minds IPO Price | INR 166 per share |
| Happiest Minds IPO Lot Size | 90 Shares |
| Issue Size | 702.02 Cr |
| Offer for sale | 592.02 Cr |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE. |
| QIB Shares Offered | 77.43 times |
| NII (HNI) Shares | 351.46 times |
| Company Promoters | Mr. Ashok Soota is the promoter of the company. |
IPO-Tentative Dates
| HAPPIEST MINDS TECH IPO opening date | 7 Sept 2020 |
| HAPPIEST MINDS TECH IPO closing date | 9 Sept 2020 |
| Basis of Allotment | 14 Sept 2020 |
| Initiation of Refunds | 14 Sept 2020 |
| The credit of Shares to Demat | 15 Sept 2020 |
| HAPPIEST MINDS TECH IPO Listing Date | 17 Sept 2020 |
Industry Overview.
Global technology spending is estimated to be USD 4,218.7 billion in 2019. A growth of 6.3 percent is expected year-on-year, reaching USD 6,080 billion by 2025. Software and engineering research and design (ER&D) are expected to lead the growth going forward.
Company Overview
Happiest Minds Ltd is a Bangalore based IT service provider company. The business of the company is divided into three categories; Digital Business Service (DBS), Product Engineering Service (PES) and Infrastructure and Management Security Service (IMSS).
The DBS unit offers digital application development & modernization, assistance in designing & testing of operations, management of the platform, consulting and domain led offerings.
PES unit helps by transforming the potential of digital by making the product secure and smart. Wherein, IMSS provides an end-to-end monitoring and management capability for applications and infrastructure of the clients.
Objectives Of The Issue
- To meet long-term working capital requirements.
- General corporate purposes
Financial Statements
| Particulars | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 |
| Total Assets | 5,081.5 | 4,135.2 | 3,869.9 |
| Total Revenue | 7,142.3 | 6,018.1 | 4,891.2 |
| Profit After Tax | 717.1 | 142.1 | 224.7 |
Strengths
- Focused on software product development.
- Strong Brand in offering Digital IT services.
- End to End digital lifecycle.
- Agile Engineering and Delivery.
Weakness
- Highly competitive market.
- The two book running lead managers associated with the Offer have handled 11 public issues in the past three years out of which 5 closed below the issue price on the listing date.
Company Contact Information
Happiest Minds Technologies Ltd
53/1-4, Hosur Main Road,
Madivala (Next to Madivala Police Station),
Bengaluru – 560 068
Phone: +91 80 6196 0300
Email: investors@happiestminds.com
Website: http://www.happiestminds.com/
Happiest Minds IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: happiestminds.ipo@kfintech.com
Website: https://karisma.kfintech.com/
