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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 ₹166.00 per share . The lot size for an application is 90. The minimum amount of investment required by an retail is ₹14,850 (90 shares). 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 Date | September 7, 2020 to September 9, 2020 |
| Listing Date | September 17, 2020 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹165 to ₹166 per share |
| Issue Price Final | ₹166 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 4,22,90,091 shares (aggregating up to ₹702.02 Cr) |
| Fresh Issue | 66,26,506 shares (aggregating up to ₹110.00 Cr) |
| Offer for Sale | 3,56,63,585 shares of ₹2 (aggregating up to ₹592.02 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 14,02,37,050 shares |
| Share Holding Post Issue | 14,68,63,556 shares |
Happiest Minds IPO offers total 4,22,90,091 shares. Out of which 3,17,17,569 (75.00%) allocated to QIB, 1,26,87,028 (30.00%) allocated to QIB, 63,43,513 (15.00%) allocated to NII, 42,29,009 (10.00%) allocated to RII and 1,90,30,541 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
Happiest Minds Technologies IPO opens on September 7, 2020, and closes on September 9, 2020.
| IPO Open Date | Mon, Sep 7, 2020 |
| IPO Close Date | Wed, Sep 9, 2020 |
| Tentative Allotment | Mon, Sep 14, 2020 |
| Initiation of Refunds | Tue, Sep 15, 2020 |
| Credit of Shares to Demat | Tue, Sep 15, 2020 |
| Tentative Listing Date | Thu, Sep 17, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Sep 9, 2020 |
Investors can bid for a minimum of 90 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| Particulars | For the year/period ended (Rs in Million) | ||||
|---|---|---|---|---|---|
| 30-Jun-20 | 31-Mar-20 | 31-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 | |
| Profit After Tax | 501.8 | 717.1 | 142.1 | (224.7) | |
The Company Happiest Minds Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To meet long term working capital requirements | 101.00 |
| 2 | General corporate purposes | 3.03 |
[Dilip Davda] Based on financial parameters, issue appears fairly priced with something on the table. The company has adopted a mindful IT strategy for its future growth. Investors may consider subscribing this IPO for medium to long term rewards. Read detail review...
The Percentage of Offer Size available for Allotment/allocation:
| Listing Date | September 17, 2020 |
| BSE Script Code | 543227 |
| NSE Symbol | HAPPSTMNDS |
| ISIN | INE419U01012 |
| Final Issue Price | ₹166 per share |
| BSE Listing Group | B |
Happiest Minds Technologies Ltd.
53/1-4, Hosur Main Road,
Madivala (Next to Madivala Police Station),
Bengaluru - 560 068
Bengaluru, Karnataka
Phone: +91 80 6196 0300
Email: investors@happiestminds.com
Website: http://www.happiestminds.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: happiestminds.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
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 ₹702.02 Crores. The issue is priced at ₹166 per share. The minimum order quantity is 90.
The IPO opens on September 7, 2020, and closes on September 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 September 7, 2020 and closes on September 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 Tuesday, September 15, 2020. Check the Happiest Minds Technologies IPO allotment status.
The Happiest Minds Technologies IPO listing date is on Thursday, September 17, 2020.
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