Happiest Minds IPO Dates, Allotment, Size, Live Bid Details, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Happiest Minds IPO release date, IPO offer price, subscription, Happiest Minds Technologies IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Check out the Live Performance of Share Price Listings –
| Face Value | Rs 2 |
| Price Band | Rs 165 – Rs 166 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 90 |
| Listing Date | Sept 17, 2020 |
| Offer for Sale | 35,663,585 |
| Fresh Issue | Rs 110 Crores |
| IPO Size | Rs 702.02 Crores |
| Tick Size | 1.00 |
Happiest Minds IPO – Summary
Positioned as “Born Digital. Born Agile”, they focus on delivering a seamless digital experience to their customers. Their offerings include, among others, digital business, product engineering, infrastructure management and security services.
Their capabilities provide end-to-end solution in the digital space. They believe that they have developed a customer-centric focus that aims to fulfil their immediate business requirements and to provide them strategically viable, futuristic and transformative digital solutions.
From FY 2017-18 to FY 2019-2020, as per the Restated Financial Statements
- Their total income was Rs.4,891.2 million, Rs.6,018.1 million and Rs.7,142.3 million, respectively.
- Their EBITDA was Rs.76.2 million, Rs.662.8 million and Rs.1,131.2 million, respectively and
- The Company’s restated profit / (loss) for the year was Rs.(224.7) million, Rs.142.1 million and Rs.717.1 million, respectively. This represents a CAGR for total income of 20.8% and a CAGR for EBITDA of 285.3% between Fiscal 2018 and Fiscal 2020.
The Promoter of this company is ASHOK SOOTA. The lead managers to the issue are ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited. The Registrar to this issue is KFin Technologies Private Limited.
Happiest Minds IPO Dates / Launch Date
The opening and the closing date of Happiest Minds Technologies IPO is Sep 7, 2020 – Sep 9, 2020.
Happiest Minds IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – Sep 7 | 0.09x | 0.62x | 14.61x | 2.87x |
| 2nd Day – Sep 8 | 0.47x | 3.97x | 38.84x | 8.40x |
| 3rd Day – Sep 9 | 77.43x | 351.46x | 70.94x | 150.98x |
| Shares Offered or Net Issue | 12,687,028 | 6,343,513 | 4,229,009 | 23,259,550 |
The shares subscribed by the public are updated here.
Happiest Minds IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders.
Happiest Minds IPO – Live Performance
The listing date of this IPO is 17 – Sept 2020. You can check the live performance of this IPO here, only after it is listed on exchanges.
Happiest Minds IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | Sep 14, 2020 |
| Refunds Initiation | Sep 15, 2020 |
| Credit of Shares to Demat Account | Sep 15, 2020 |
| Share Listing Date | Sep 17, 2020 |
Happiest Minds IPO Price Band / Cash Price
The face value of each share is Rs.2, and the cash price of the IPO is Rs 165 – Rs 166.
Happiest Minds IPO Size
This Initial Public Issue of 42,290,091 Equity Shares of Rs.2 each for cash at a price of Rs.166 per equity share aggregating to Rs.7020.2 million.
Happiest Minds IPO Share Offering
Fresh Issue: The Fresh Issue of 6,626,506 Equity Shares by their Company, aggregating to Rs.1,100.0 million,
Issue Size: 42,290,091 Equity Shares of Rs.2 each, aggregating to Rs. 7020.2 million
Offer for Sale: Offer for sale consists of Up to 8,414,223 Equity Shares of face value of Rs.2 each, aggregating Rs. 5920.2 million.
Happiest Minds IPO Grey Market Premium
The Happiest Minds Technologies IPO Grey Market Premium price is Rs 108-111, the Kostak rate is Rs 425 and the Subject to Sauda is 7000.
Happiest Minds IPO – Company Overview
They help their customers in finding new ways to interact with their users and clients enabling them to become more engaging, responsive and efficient. They focus on delivering a seamless digital experience to their customers.
Also, they offer solutions across the spectrum of various digital technologies such as Robotic Process Automation (RPA), Software-Defined Networking/Network Function Virtualization (SDN/NFV), Big Data and advanced analytics, Internet of Things (IoT), cloud, Business Process Management (BPM) and security.
Happiest Minds Technologies Business Units
- Digital Business Services (DBS)
- Product Engineering Services (PES)
- Infrastructure Management & Security Services (IMSS)
Their business units are supported by the following three Centres of Excellence (CoEs):
- Internet of Things (IoT)
- Analytics / Artificial Intelligence (AI)
- Digital Process Automation (DPA)
Happiest Minds IPO – Company Financial Statements
On the basis of Standalone statement:
| Amount (in INR & million) | ||||
| 30-Jun-20 | 31-Mar-20 | 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 |
| Total Expense | 1,461.5 | 6,293.6 | 5,762.5 | 5,122.0 |
| Profit After Tax | 501.8 | 717.1 | 142.1 | (224.7) |
Earnings per Equity Share (in million)
| Amount (in INR & million) | ||||
| 30-Jun-20 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic | 3.73 | 7.04 | 1.89 | (3.13) |
| Diluted |
3.73 | 5.36 | 1.16 | (3.13) |
Happiest Minds Technologies IPO – Promoters
The Promoter of this company is:
- ASHOK SOOTA
List of Related Parties (Key Managerial Personnel)
- Rajiv Shah & Joseph Anantharaju Chief Executive Officer
- Praveen Kumar Darshankar, Company Secretary and Compliance Officer
- Venkatraman Narayanan, Chief Financial Officer
Happiest Minds IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to [●] Equity Shares, aggregating up to Rs.[●] million |
| Of which: | |
| Fresh Issue | [●] Equity Shares, aggregating up to Rs.1,100 million |
| Offer for Sale | Up to 8,414,223 Equity Shares, aggregating up to Rs.[●] million |
| QIB Category | At least [●] Equity Shares |
| Non-Institutional Portion | Not more than [●] Equity Shares |
| Retail Portion | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 107,862,479 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Happiest Minds IPO Issue Object
To utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
1. To meet long term working capital requirement; and
2. General corporate purposes
Happiest Minds Technologies Limited – Competitive Strength
- Strong brand in Digital IT services
- Strong R&D capability with depth in disruptive technologies creating value through newly engineered solutions
- End to End capabilities spanning the digital lifecycle from roadmap to deployment and maintenance
- Agile Engineering and Delivery
- Mindful approach towards systems, employee policies and practices led by an experienced leadership and senior management team focused on sound corporate governance practices
Happiest Minds IPO – Technologies Recognition
The Frost & Sullivan Report estimates the global digital services market of USD 691 billion in 2019 to grow at a CAGR of 20.2% to USD 2,083 billion by 2025. In Fiscal 2020, 96.9% of their revenues came from digital services. This is one of the highest among Indian IT companies.
They are led by a professional management team with extensive experience in the IT Services industry, in-depth understanding of managing complex projects and a proven performance track record.
Happiest Minds Technologies Limited – Business strategies
- Acquire new accounts and deepen key account relationships
- Further investments in their CoEs and digital processes
- Strengthen existing partnerships and enter into new partnerships with Independent Software Vendors
- Domain led approach towards customer acquisition and revenue generation in specific verticals
- Attract, develop and retain skilled employees to sustain their service quality and customer experience
- Selectively Pursue Strategic Acquisitions
Happiest Minds IPO – Basis of the Offer Price
The Offer Price has been determined by their Company and the Selling Shareholder in consultation with the Lead Managers on the basis of the key business strengths.
Qualitative factors are:
- Strong brand in Digital IT services;
- Growing high revenue generating customer accounts with a high proportion of repeat revenues and revenues from mature markets;
- Scalable business model with multiple drivers of steady growth;
- End to End capabilities spanning the digital lifecycle from roadmap to deployment and maintenance;
- Strong R&D capability with depth in disruptive technologies creating value through newly engineered solutions;
- Agile Engineering and Delivery; and
- Mindful approach towards systems, employee policies and practices led by an experienced leadership and senior management team focused on sound corporate governance practices.
Happiest Minds Technologies IPO – Quantitative Factors
| Basic EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-18 | (3.13) | (20.6%) | – |
| 31-Mar-19 | 1.89 | (21.1%) | – |
| *31-Mar-20 | 7.04 | 27.1% | 26.0 |
- Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each
| Particulars | P/E No. of Times |
| Highest | 24.0x |
| Average | 21.8x |
| Lowest | 18.2x |
Happiest Minds Technologies IPO : Competitive Peers
| Face Value (Rs.) | P/E | Basic EPS (Rs.) | Return on Net Worth (%) | NAV per share (Rs.) | |
| TCS | 1 | 23.7x | 86.19 | 37.2% | 225.9 |
| Infosys | 5 | 18.2x | 38.97 | 25.4% | 154.8 |
| LTI | 1 | 21.2x | 87.45 | 29.5% | 310.4 |
| Mindtree | 10 | 24.0x | 38.35 | 19.5% | 191.8 |
Happiest Minds IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited
ICICI Centre H. T. Parekh Marg Churchgate Mumbai – 400 020 Maharashtra, India Tel: +91 22 2288 2460 E-mail: happiestminds.ipo@icicisecurities.com Website: www.icicisecurities.com Investor Grievance e-mail: customercare@icicisecurities.com Contact Person: Sameer Purohit / Shekher Asnani SEBI Registration No.: INM000011179 Nomura Financial Advisory and Securities (India) Private Limited Ceejay House, Level 11 Plot F, Shivsagar Estate, Dr. Annie Besant Road Worli, Mumbai – 400 018 Maharashtra, India Tel: +91 22 4037 4037 E-mail: happiestmindsipo@nomura.com Website: www.nomuraholdings.com/company/group/asia/india/index.html Investor grievance e-mail: investorgrievances-in@nomura.com Contact Person: Vishal Kanjani / Harsh Kumar SEBI Registration No.: INM000011419 |
Happiest Minds Technologies IPO Registrar to Offer
| Registrar to the Offer |
| KFin Technologies Private Limited
Karvy Selenium Tower B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda Hyderabad – 500 032, India Telephone: +91 40 6716 2222 Fax: +91 40 2343 1551 E-mail: happiestminds.ipo@kfintech.com Website: www.kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Contact Person: M Murali Krishna SEBI Registration No.: INR000000221 |
Happiest Minds IPO – Other Details
- Statutory Auditor – S.R. Batliboi and Associates LLP
- Legal Counsel to the Company – Khaitan & Co
- Bankers to the Company – HDFC Bank Limited, ICICI Bank Limited, RBL Bank Limited, Kotak Mahindra Bank Limited
Happiest Minds Technologies IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Happiest Minds IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.4/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 8.2/10 |
| Company Reputation | 7.7/10 |
| Competitive Edge | 7.2/10 |
| Financial Statements | 8.0/10 |
| Popularity Index | 7.6/10 |
| Promoters Reputation | 8.0/10 |
| Retail Appetite | 7.5/10 |
| Top Brokers Review | 8.1/10 |
| Overall Ratings | 7.5/10 |
| Star Ratings | ★★★★☆ |
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Happiest Minds Technologies IPO News
News 1 – Happiest Minds Technologies IPO [Download DRHP Prospectus]
News 2 – Happiest Minds Technologies IPO [RHP Prospectus]
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