Happiest Minds Technologies was incorporated on March 30, 2011. The company's offerings include, among others, digital business, product engineering, infrastructure management and security services.
| Bidding Dates |
|---|
| 07 Sep 2020 - 09 Sep 2020 |
| Subscription |
|---|
| 150.98x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,940 | 1 | 13 | 90 | 42.3 M | ₹165 - ₹166 | 71.2 % | ₹6977.9 M - ₹7020.2 M | RHP DOC |
Happiest Minds IPO SUBSCRIPTION STATUS
09 Sep '20Happiest Minds IPO overall subscription rate was 150.98 times the total available shares
Happiest Minds IPO retail subscription rate was 70.94 times in the retail segment
Happiest Minds IPO non-institutional investor subscription rate was 351.46 times in the non-institutional investor category
Happiest Minds IPO Qualified Institutional Bidder subscription rate was 77.43 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
08 Sep 2020 (Day 2) | 38.85x | 3.96x | 0.47x |
09 Sep 2020 (Day 3) | 70.94x | 351.46x | 77.43x |
07 Sep 2020 (Day 1) | 14.61x | 0.62x | 0.08x |
Happiest Minds FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 3MFY21 | 501.8 | 1,770.2 | 333.4 | 332.4 | 25.6% |
| FY20 | 717.1 | 6,982.1 | 1,122.2 | 1,117.6 | 15.8% |
| FY19 | 142.1 | 5,903.6 | 576.2 | 568.3 | 11.0% |
| FY18 | -224.7 | 4,628.9 | 103.4 | 92.1 | 1.6% |
Happiest Minds IPO SUBSCRIPTION STATUS DETAILS
Happiest Minds had 42.3 M shares on offer
Happiest Minds IPO offer price was in the range ₹165 - ₹166
Happiest Minds IPO minimum Investment was ₹14940
Happiest Minds IPO issue size was ₹ 6977.9 M - ₹ 7020.2 M
Happiest Minds had a minimum lot size of 90 Shares per application
Happiest Minds NUMBER OF SHARES ON OFFER
Happiest Minds IPO IMPORTANT DATES
| Issue Open Date | 07 Sep 2020 |
| Issue close Date | 09 Sep 2020 |
| Allotment Date | 14 Sep 2020 |
| Refund Date | 15 Sep 2020 |
| Demat Account Credit Date | 15 Sep 2020 |
| Listing Date | 17 Sep 2020 |
| Listing on Exchange(s) | NSE and BSE |
| Happiest Minds Allotment Status | Exchange |
Happiest Minds IPO subscription opened on 07 Sep 2020, and closed on 09 Sep 2020
IPO allotment for Happiest Minds was finalized on Monday, 14 Sep 2020
IPO listing for Happiest Minds was on NSE and BSE on Thursday, 17 Sep 2020
Happiest Minds IPO LISTING GAINS
| Issue Price (adjusted) | 166.0 |
| Listing Open Price | 351.0 |
| Listing Close Price | 371.0 |
| Listing Gain% | 111.5% |
| Current Gain% | 137.6% |
Happiest Minds Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Happiest Minds Technologies Ltd. | 394.4 | 5791.6 | 26.9 | 1.6 | 2.5 | 12.6 | 5.9 | 2400.1 | 11 | 212.6 | 15.1 | 14.7 | 17 |
| Tata Consultancy Services Ltd. | 2445.7 | 884875.7 | 17.8 | 16.6 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1190.7 | 483192.8 | 16 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1365.4 | 370523.8 | 21.3 | 8.1 | 2.8 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 184.6 | 182835.1 | 13.8 | -7.6 | 1.9 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1643 | 161027.9 | 31.4 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Happiest Minds INFORMATION ON IPO ISSUE
About Happiest Minds
Happiest Minds Technologies was incorporated on March 30, 2011. The company's offerings include, among others, digital business, product engineering, infrastructure management and security services.
Object of the Issue
- To meet long term working capital requirement
- General corporate purposes
Happiest Minds - PROMOTERS
| Name |
|---|
| Ashok Soota |
Happiest Minds Book Running Lead Manager
ICICI Securities Limited
happiestminds.ipo@icicisecurities.com
Nomura Financial Advisory and Securities (India) Private Limited
happiestmindsipo@nomura.com
Happiest Minds Registrar to the Offer
KFinTechnologies Private Limited
happiestminds.ipo@kfintech.com
Happiest Minds Strengths
Strong brand in digital IT services
Brand positioning “Born Digital. Born Agile” is a reflection of digitalization being built into the essence of business
Growing high revenue
Growing high revenue generating customer accounts with a high proportion of repeat revenues and revenues from mature markets
End to end capabilities
The company's core competency is full lifecycle software development services including design and prototyping, product development and testing, component design and integration, product deployment, performance tuning, porting, cross-platform migration, and ongoing support
Happiest Minds Risks
Geographically concentrated
Revenues from operations are highly dependent on customers located in the United States
Rapid growth
The company has grown through organic growth as well as through strategic acquisitions and it may be unable to effectively manage such rapid growth
IPO FAQs
This IPO consists of an offer for sale of up to Rs 592.0 crore, of 35,663,585 shares. It also consists of a fresh issue of Rs 110.0 crore.
The promoter of the company is Ashok Soota.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 165.0 - 166.0.
The IPO application opens on Sep 07, 2020 and closes on Sep 09, 2020.
The minimum lot size for the IPO is 90. The maximum lot size for the IPO is 1170.
For all category investors, the minimum application amount for this IPO is Rs. 14,940.0, the maximum value for this IPO is Rs 194,220.0.
This IPO will be allotted on Sep 14, 2020.
The refund will be credited to your account on Sep 15, 2020.
The allotted shares will be credited to your demat on Sep 15, 2020.
Happiest Minds Technologies Ltd.’s shares listed on the stock exchanges on Sep 17, 2020.