Happiest Minds IPO Closed
Happiest Mind Technologies is launching a Rs 700 crore public issue.
| IPO date | 07 Sep 2020 – 09 Sep 2020 |
| Listing date | – |
| Price range | 165 – 166 |
| Minimum order quantity | 90 | (D)RHP | View |
Happiest Minds Technologies Limited is an IT services company founded in 2011 by Ashok Soota (one of the co-founders of Mindtree Limited).
Here is a revenue breakup of the company given in the prospectus:
| Service Offerings | Fiscal 2019 | Fiscal 2020 | Three Months Ended June 30, 2020 |
|---|---|---|---|
| Digital infrastructure/Cloud | 40.9% | 31.2% | 43.7% |
| SaaS | 28.6% | 29.4% | 23.6% |
| Security solutions | 10.2% | 14.9% | 7.6% |
| Analytics/AI | 9.1% | 11.6% | 12.1% |
| IoT | 8.4% | 9.8% | 9.3% |
| Total | 97.2% | 96.9% | 96.3% |
The issue size is approximately Rs 700 crores and accounts for about 28.8% of the post-offer shares of the company. In other words, the expected size (or, market capitalization) of the company is about Rs 2400 crores at the issue price. Out of the Rs 700 crores, about 15% will be in form of new shares of the company and the rest of the issue is an offer for sale from the promoters (about 20%) and investors (about 65%).
You can check the revenue and profit of the company for the last three fiscal years below (from the prospectus):
| Parameter Rs. million | Fiscal 2018 | Fiscal 2019 | Fiscal 2020 | Three Months Ended June 30, 2020 |
|---|---|---|---|---|
| Revenue from operations | 4,891.2 | 6,018.1 | 7,142.3 | 1,869.9 |
| EBITDA | 76.2 | 662.8 | 1,131.2 | 478.2 |
| Restated before tax profit/ (loss) for the quarter / year | (230.8) | 129.8 | 736.1 | 408.4 |
| Restated profit/ (loss) for the quarter / year | (224.7) | 142.1 | 717.1 | 501.8 |
How do I apply for the Happiest Minds IPO?
You can apply for the Happiest Minds IPO using any supported UPI app by following two steps:
- Enter your bid on Console
- Accept UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.