IPO Details
Below are key details about the IPO of the Company
- IPO Start Date – 7th Sep 2020
- IPO End Date – 9th Sep 2020
- IPO Price – INR 165
- IPO Lot Size – 90
- IPO Listing Date – 17th Sep 2020
- Minimum investment required – INR 14,940
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Business Details
Happiest Minds does not reflect in any way the sector it operates in. My first impression was that it belongs to healthcare sector. But while analyzing the Company I came to know that it is IT service provider Company.
It operates in Cloud computing, social media, mobility solutions, business intelligence, analytics, unified communications and internet of things. If you belong to IT background then you will surely know or hear of these terms.
These are buzz words in IT industry right now and most Companies are using these terms heavily. The Company tag line is Born Digital Born Agile. Agile being the new operational process of IT world now. and Digital transformation is single term.
The Company is headquartered in Bangalore and have branch office at United States of America, United Kingdom, Australia, Canada, Netherland, Singapore, Malaysia and Dubai.
It does offers some unique solutions for different industries. Most of the solutions are analytics on user behave for better understanding users of business in question. The different solutions offered by the Company are
- Apprise
- Digital Assisted Selling Platform
- Data Accel
- Digital Content Broker solution
- Integrated Security as Services
- Location mobile personalization
- Midas
- Digital Customer Onboarding
Financial Snapshot
Below are key financials of the Company for year ending 2020
- Total Income – 714.19
- Total Expense – 627.60
- Profit for year – 73.43
- Basic EPS – 7.21
- Diluted EPS – 5.49
IPO Subscription Status
Below is IPO Subscription status of the Company. I will be updating this section with time.
- QIB – 57.74 times
- NII – 300.45 times
- RII – 65.72 times
- Total Subscription is 125.38 times
Based on Subscription data the IPO seems to have good listing on listing date.Below is meaning of the Key terms used above
- QIB is (Institutes or Mutual Funds like HDFC AMC etc)
- NII is (People bidding for more than 2 lakhs in IPO application)
- RII is (People bidding for less than 2 lakhs)
- Employee and Others are Reserved Quota Investors.
My Opinion
Though it is IPO subscription or no subscription post instead of Company analysis post. I would like to focus on key observation about the Company. Mr Ashok Soota is executive chairman and director of the Company. He was co founder of Mindtree limited.
Mindtree as of now is Midcap IT Company. So the management is in experienced hands. The areas Company operates in competitive one as most of the IT Companies are eyeing these areas.It will be very interesting to see how it can overcome the competition and guide its way towards growth.