Let’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.
Happiest Minds IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||8.1/10|
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 not known yet.
Happiest Minds IPO Subscription
|Day / Date||QIB||NII||RII||Total Subscription|
|1st Day –|
|2nd Day –|
|3rd Day –|
|4th Day –|
|Shares Offered or Net Issue|
The shares subscribed by the public will be 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 Listing Date
Find the dates below on basis of allotment, refund, listing and more:
|Basis of Allotment Finalization||–|
|Credit of Shares to Demat Account||–|
|Share Listing Date||–|
Happiest Minds IPO Price Band / Cash Price
The face value of each share is Rs.2, and the cash price of the IPO is [●].
Happiest Minds IPO Size
This Initial Public Issue of [●] Equity Shares of Rs.2 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] million.
Happiest Minds IPO Share Offering
Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.2 each at a price of [●] per equity share aggregating to Rs.1,100.0 million,
Net Offer: The Net Offer of up to 14,28,000 Equity Shares of Rs.2 each at price of Rs.[●] per Equity Shares aggregating to Rs.[●] million
Offer for Sale: Offer for sale consists of Up to 35,663,585 Equity Shares of face value of Rs.2 each for cash at a price of Rs.[●] per Equity Share aggregating Rs.[●] million.
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 Technologies Mission Statement
Their mission statement is “Happiest People. Happiest Customers” and they seek to enable their customers’ happiness through their people’s happiness. Their culture rests on the foundation of their SMILES Values (Sharing, Mindful, Integrity, Learning, Excellence, Social Responsibility).
They believe that the recognitions and awards received by their Company are on outcome of their mindful approach. In the Great Place to Work 2019 survey, they were ranked among India’s Top 25 Best Workplaces for Women.
The company have also received the Great Place to Work Certification. As of March 31, 2020, they had a Glassdoor rating of 4.1 on a scale of ‘1- 5’, among the highest for Indian IT services companies
Happiest Minds Technologies – Client base
As of March 31, 2020, they had 157 active customers. Their repeat business (revenue from existing customers) has steadily grown and contributed a significant portion of their revenue from contracts with customers over the years indicating a high degree of customer stickiness.
They believe their agility and resilience has stood out in recent years. In Fiscal 2020, they delivered 87.9% of their projects through agile delivery methodology.
Happiest Minds 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 – Company Financial Statements
On the basis of Standalone statement:
|Amount (in INR & million)|
|Profit After Tax||717.1||142.1||(224.7)|
Earnings per Equity Share (in million)
|Amount (in INR & million)|
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
Interests of Promoter in property of their Company
Their Promoter is not interested in any property acquired by their Company in the preceding three years from the date of filing this Draft Red Herring Prospectus with SEBI, or proposed to be acquired by their Company, or in any transaction by their Company for acquisition of land, construction of building or supply of machinery.
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|
|Fresh Issue||[●] Equity Shares, aggregating up to Rs.1,100 million|
|Offer for Sale||Up to 35,663,585 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 – 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.)|
- Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each
|Particulars||P/E No. of Times|
Happiest Minds Technologies Limited: Competitive Peers
|Face Value (Rs.)||P/E||Basic EPS (Rs.)||Return on Net Worth (%)||NAV per share (Rs.)|
Happiest Minds IPO Lead Managers
|ICICI Securities Limited |
ICICI Centre H. T. Parekh Marg Churchgate Mumbai – 400 020 Maharashtra, India Tel: +91 22 2288 2460 E-mail: firstname.lastname@example.org Website: www.icicisecurities.com Investor Grievance e-mail: email@example.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: firstname.lastname@example.org Website: www.nomuraholdings.com/company/group/asia/india/index.html Investor grievance e-mail: email@example.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: firstname.lastname@example.org Website: www.kfintech.com Investor grievance e-mail: email@example.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|
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