As Happiest Minds IPO opens today, there are certain points that you need to know before investing. So, AsthaTrade has come-up with this quick write-up for you to understand effortlessly.
- The IPO of Happiest Minds Technologies begins for subscription today and closes on September 9.
- The price band of the offer has been mended at ₹165 to ₹166 per equity share.
- The company’s promoter Ashok Soota was the founding chairman and managing director of MindTree Limited. He was also the vice-chairman of Wipro Limited. Happiest Minds Technologies was founded in 2011.
- ICICI Securities and Nomura Financial Advisory and Securities (India) are the managers for the offer.
The Listing and Lot Size
Happiest Minds Technologies shares will be detailed on the BSE and the NSE. The minimum lot size is 90, which means investors have to apply for a minimum of 90 shares and in multiples thereafter. Kevin Technologies Private Limited is the registrar of the IPO.
As of June 30, 2020, it had 148 active customers with a global presence in countries like US, UK, Australia, Canada and the Middle East. It draws over 95% of its revenue from digital IT services.
In FY20, the company had reported revenues of ₹714 crores. This represents a CAGR for a total income of 20.8% between FY18 and FY20. It has over 2,600 employees. In FY20, it had reported a profit of ₹72 crores.
(Information courtesy: Livemint)