Bookbuilding IPO | ₹702 Cr | Listed at BSE, NSE | Mon, Sep 7, 2020 - Wed, Sep 9, 2020
Happiest Minds Technologies IPO is a book build issue of ₹702.02 crores. The issue is a combination of fresh issue of 0.66 crore shares aggregating to ₹110.00 crores and offer for sale of 3.57 crore shares aggregating to ₹592.02 crores.
Happiest Minds Technologies IPO bidding started from Sep 7, 2020 and ended on Sep 9, 2020. The allotment for Happiest Minds Technologies IPO was finalized on Sep 14, 2020. The shares got listed on BSE, NSE on Sep 17, 2020.
Happiest Minds Technologies IPO price band is set at ₹166 per share. The lot size for an application is 90. The minimum amount of investment required by an retail is ₹14,940 (90 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹2,09,160, and for bNII, it is 67 lots (6,030 shares), amounting to ₹10,00,980.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Happiest Minds Technologies IPO RHP for detailed Information.
IPO Open
Mon, Sep 7, 2020
IPO Close
Wed, Sep 9, 2020
Issue Price
₹166 per share
Market Cap (Pre-IPO)
₹2,437.94 Cr
| IPO Date | 7 to 9 Sep, 2020 |
| Listed on | Thu, Sep 17, 2020 |
| Face Value | ₹2 per share |
| Price Band | ₹165 to ₹166 |
| Issue Price | ₹166 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 4,22,90,091 shares (agg. up to ₹702 Cr) |
| Fresh Issue | 66,26,506 shares (agg. up to ₹110 Cr) |
| Offer for Sale | 3,56,63,585 shares of ₹2 (agg. up to ₹592 Cr) |
| Share Holding Pre Issue | 14,02,37,050 shares |
| Share Holding Post Issue | 14,68,63,556 shares |
| BSE Script Code / NSE Symbol | 543227 / HAPPSTMNDS |
| ISIN | INE419U01012 |
Happiest Minds Technologies IPO comprises a total issue size of 4,22,90,091 shares. Out of which, 3,17,17,569 (75.00%) are allocated to QIB, 63,43,513 (15.00%) allocated to NII 42,29,009 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 3,17,17,569 | 75.00% | NA |
| − Anchor Investor Shares Offered | 1,90,30,541 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,26,87,028 | 30.00% | NA |
| NII (HNI) Shares Offered | 63,43,513 | 15.00% | NA |
| Retail Shares Offered | 42,29,009 | 10.00% | 46,988 |
| Total Shares Offered | 4,22,90,091 | 100.00% |
Investors can bid for a minimum of 90 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,940 |
| Retail (Max) | 13 | 1,170 | ₹1,94,220 |
| S-HNI (Min) | 14 | 1,260 | ₹2,09,160 |
| S-HNI (Max) | 66 | 5,940 | ₹9,86,040 |
| B-HNI (Min) | 67 | 6,030 | ₹10,00,980 |
Happiest Minds Technologies IPO raises ₹315.91 crore from anchor investors. Happiest Minds Technologies IPO Anchor bid date is September 4, 2020.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 4, 2020 |
| Shares Offered | 1,90,30,541 |
| Anchor Portion (₹ Cr.) | 315.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Oct 14, 2020 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Dec 13, 2020 |
Incorporated in 2011, Positioned as "Born Digital. Born Agile" Happiest Minds Ltd is a Bangalore based IT service provider company. The business of the company is divided into three categories; Digital Business Service (DBS), Product Engineering Service (PES) and Infrastructure and Management Security Service ( IMSS).
The DBS unit offers digital application development & modernisation, assistance in designing & testing of operations, management of the platform, consulting and domain led offerings.
PES unit helps by transforming the potential of digital 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.
As of June 30, 2020, Happiest Minds had 148 active customers and has a global presence in countries like US, UK, Australia, Canada and the Middle East. The business units of the company is assisted by the 3 Centres of Excellence which are Internet of Things, Analytics / Artificial Intelligence, and Digital Process Automation. In Fiscal 2020, 96.9% of the company's revenues came from digital services which is one of 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.
Competitive Strengths
1. Focused on software product development
2. Strong Brand in offering Digital IT services
3. End to End digital lifecycle
4. Agile Engineering and Delivery
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet long term working capital requirements | 101.00 |
| 2 | General corporate purposes | 3.03 |
The Happiest Minds IPO is subscribed 150.98 times on September 9, 2020 5:00:07 PM (Day 3). The public issue subscribed 70.94 times in the retail category, 77.43 times in the QIB category, and 351.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 77.43 | 1,26,87,028 | 98,23,12,020 |
| NII | 351.46 | 63,43,513 | 2,22,95,01,690 |
| Retail | 70.94 | 42,29,009 | 30,00,13,740 |
| Total | 150.98 | 2,32,59,550 | 3,51,18,27,450 |
The Percentage of Offer Size available for Allotment/allocation:
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMsand commissions(including underwriting commission, brokerage and selling commission) | 19.35 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids rocured by the Members of the Syndicate, the Registered Brokers, CRTAs or CDPsand submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIBs,selling commission and uploadingcharges payable toMembers of the Syndicate (including their Sub-Syndicate Members), RTAs,CDPsand Register | 3.62 |
| 3 | Processing fees payable to the Sponsor Bank | 1.48 |
| 4 | Fees payable to Registrar to the Offer | 0.83 |
| 5 | Printing and stationery expenses | 1.03 |
| 6 | Advertising and marketing expenses | 1.22 |
| 7 | Listing fees, SEBIfees, BSE and NSE processing fees, Book-building software fees, Other regulatory expenses, Fees payable tolegal counsel; and Miscellaneous | 10.55 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹166.00 | ₹166.00 |
| Open | ₹351.00 | ₹350.00 |
| Low | ₹351.00 | ₹350.00 |
| High | ₹395.00 | ₹394.95 |
| Last Trade | ₹371.00 | ₹370.95 |
Lead Manager Reports
Happiest Minds Technologies IPO is a main-board IPO of 4,22,90,091 equity shares of the face value of ₹2 aggregating up to ₹702 Crores. The issue is priced at ₹166 per share. The minimum order quantity is 90.
The IPO opens on Mon, Sep 7, 2020, and closes on Wed, Sep 9, 2020.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Happiest Minds Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Happiest Minds Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Happiest Minds Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Happiest Minds Technologies IPO opens on Mon, Sep 7, 2020 and closes on Wed, Sep 9, 2020.
Happiest Minds Technologies IPO lot size is 90, and the minimum amount required for application is ₹14,940.
You can apply in Happiest Minds Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Happiest Minds Technologies IPO will be done on Monday, September 14, 2020, and the allotted shares will be credited to your demat account by Tue, Sep 15, 2020. Check the Happiest Minds Technologies IPO allotment status.
The Happiest Minds Technologies IPO listing date is on Thu, Sep 17, 2020.
