Happiest Minds IPO Dates, Allotment, Size, Live Bid Details, GMP & DRHP

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.Stock Broker Complaints


Happiest Minds IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.4/10
Industry Ranking7.1/10
Company Background8.2/10
Company Reputation7.7/10
Competitive Edge7.2/10
Financial Statements8.0/10
Popularity Index7.6/10
Promoters Reputation8.0/10
Retail Appetite7.5/10
Top Brokers Review8.1/10
Overall Ratings7.5/10
Star Ratings★★★★☆

Happiest Minds IPO – Summary

Happiest Minds Technologies IPO

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 / DateQIBNIIRIITotal 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
Refunds Initiation
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)
31-Mar-20Mar-1931-Mar-18
Total Assets5,081.54,135.23,869.9
Total Revenue7,142.36,018.14,891.2
Total Expense6,293.65,762.55,122.0
Profit After Tax717.1142.1(224.7)

Earnings per Equity Share (in million)

Amount (in INR & million)
31-Mar-20Mar-1931-Mar-18
Basic 7.041.89(3.13)
Diluted
5.361.16(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

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 OfferedUp to [●] Equity Shares, aggregating up to Rs.[●] million
 Of which:
Fresh Issue[●] Equity Shares, aggregating up to Rs.1,100 million
Offer for SaleUp to 35,663,585 Equity Shares, aggregating up to Rs.[●] million
QIB CategoryAt least [●] Equity Shares
Non-Institutional PortionNot more than [●] Equity Shares
Retail PortionNot more than [●] Equity Shares
 Equity Shares outstanding prior to the Issue107,862,479 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 EPSRONW in %NAV (Rs.)
31-Mar-18(3.13)(20.6%)
31-Mar-191.89(21.1%)
*31-Mar-207.0427.1%26.0
  • Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each
ParticularsP/E No. of Times
Highest24.0x
Average21.8x
Lowest18.2x

Happiest Minds Technologies Limited: Competitive Peers

Face Value (Rs.)P/EBasic EPS  (Rs.)Return on Net Worth (%)NAV per share (Rs.)
TCS123.7x86.1937.2%225.9
Infosys518.2x38.9725.4%154.8
LTI121.2x87.4529.5%310.4
Mindtree1024.0x38.3519.5%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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Happiest Minds IPO Grey Market Premium

The Happiest Minds Technologies IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Subscribe to Happiest Minds IPO

Fill the Details Below
  1. Subscribe to IPOOpen Demat Account


Happiest Minds Technologies IPO News

News 1Happiest Minds Technologies IPO  [Download DRHP Prospectus]


Market Guide

What is IPO?
IPO Investment
Upcoming IPOs
 IPO Valuation

Featured Topics

Best Discount Broker in India
Top 10 Sub Broker Partner in India
Best Stock Broker in India
Sub Broker Franchise
Best Demat Account
Brokerage Calculator
Best Full Service Broker in India
Broking Franchisee
 Best Intraday Trading Brokers in India

Leave a Reply

Your email address will not be published. Required fields are marked *

Get 90% Discount on Brokerage Now! Open Demat Account
×

Share your details & Become Sub Broker Now!

  1. Become Sub Broker

Offer valid for limited time.

×

Share your details & Open Demat A/C Now!

  1. Open Demat Account

Offer valid for limited time.

×

Share your details & Get IPO Allotment Now!

  1. Invest in IPO

Offer valid for limited time.

×

Share your details & Invest in PMS Now!

  1. Invest in PMS / PCG

Offer valid for limited time.