In this issue of Happiest Minds, the promoters
will sell 3,56,63,585 shares from their stake. The promoter of the company,
Ashok Suta will sell 84,14,223 shares in the issue. In addition, MCDB II, a
unit of JP Morgan Asset Management Company, will sell 2,72,49,362 shares. At
the same time, fresh shares worth Rs 110 crore will be issued.
Happiest Minds IPO Details
|
IPO Date |
Sep 7, 2020 - Sep 9, 2020 |
|
Issue Type |
Book Built Issue IPO |
|
Issue Size |
42,290,091 Equity shares of 2 rupee |
|
Fresh Issue |
6,626,506 Equity shares of 2
rupee |
|
Offer for Sale |
35,663,585 Equity Shares of 2 rupee |
|
Face Value |
2 rupee per equity share |
|
IPO Price |
165 to 166 rupee per equity share |
|
Market Lot |
90 Shares |
|
Min Order Quantity |
90 Shares |
|
Listing At |
BSE, NSE |
In this issue of Happiest Minds, the promoters
will sell 3,56,63,585 shares from their stake. The promoter of the company,
Ashok Suta will sell 84,14,223 shares in the issue. In addition, MCDB II, a
unit of JP Morgan Asset Management Company, will sell 2,72,49,362 shares. At
the same time, fresh shares worth Rs 110 crore will be issued.
A lot will be 90 shares in this IPO. That is,
at least 90 shares have to be bid. After this, lots can be purchased in
multiples of 90. ICICI Securities and Nomura Financial Advisory and Services
are responsible for managing the issue.
Happiest Minds was founded in April 2011 by
Ashok Suta. Suta was one of the co-founders of Mindtree before starting this
company. Happiest Minds is headquartered in Bengaluru. It offers Digital
Business Services (DBS), Product Engineering Services (PES) and Infrastructure
Management and Security Services (IMSS). The DBS unit offers digital
application development & modernisation services, assistance in designing
& testing of operations, management of the platform, consulting and domain
led offerings services. PES unit helps by transforming the potential of digital
service 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.
|
Particulars |
For the year/period ended (in
Million) |
||||
|
30-Jun-20 |
31-Mar-20 |
31-Mar-19 |
31-Mar-18 |
||
|
Total Assets |
5,730.8 |
5,081.5 |
4,135.2 |
3,869.9 |
|
|
Total Revenue |
1,869.9 |
7,142.3 |
6,018.1 |
4,891.2 |
|
|
Profit After Tax |
501.8 |
717.1 |
142.1 |
(224.7) |
|
As of June 30, 2020, Happiest Mind had 148
customers and has expanded the business to countries such as the US, UK, Australia,
Canada and the Middle East. The company's business units are assisted by 3
Centres of Excellence which are the Internet of Things, Analytics / Artificial
Intelligence and Digital Business Automation. In fiscal 2020, 96.9% of the
company's revenue came from digital services, the highest among Indian IT
companies. Happiest Minds delivers services across industry sectors such as
Retail, Edutech, Industrial, BFSI, Hi-Tech, Engineering R&D, Manufacturing,
Travel, Media and Entertainment.
Happiest Minds IPO Tentative Date or Timetable
|
Bid/Offer Opens On |
Sep 7, 2020 |
|
Bid/Offer Closes On |
Sep 9, 2020 |
|
Finalisation of the Basis of
Allotment |
Sep 14, 2020 |
|
Initiation of Refunds |
Sep 15, 2020 |
|
A credit of Shares to Demat Account |
Sep 15, 2020 |
|
IPO Shares Listing Date |
Sep 17, 2020 |
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