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Happiest Minds IPO | Know the important things including the price band

Happiest Minds IPO | Know the important things including the price band

 

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
(aggregating up to 702.02 Cr rupee)

Fresh Issue

6,626,506 Equity shares of 2 rupee
(aggregating up to 110.00 Cr rupee)

Offer for Sale

35,663,585 Equity Shares of 2 rupee
(aggregating up to 592.02 Cr 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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