IPO Issue Details
Issue Price / Price Band₹166 per share (Fixed Price)
Face Value₹2 Per Share
Lot Size90 Shares per Lot
Total Issue Size4,22,90,091 shares (aggregating up to ₹702.02 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital-cum-Offer for Sale
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenMon, 07 Sep 2020
Subscription CloseWed, 09 Sep 2020
Anchor AllotmentFri, 04 Sep 2020
Basis of AllotmentMon, 14 Sep 2020
Initiation of RefundsTue, 15 Sep 2020
Credit of Shares to DematTue, 15 Sep 2020
Listing DateThu, 17 Sep 2020
UPI Mandate Deadline2020-09-09
Application & Investment Details
Retail — Min (1 Lots)₹14,940 — 90 shares
Retail — Max (13 Lots)₹194,220 (13 Lots)
HNI — Min (14 Lots)₹2,09,160 — 1,260 shares
Pre-IPO Promoter Holding14,02,37,050 shares
Post-IPO Promoter Holding14,68,63,556 shares
Fresh Issue Shares66,26,506 shares (aggregating up to ₹110.00 Cr)
Offer for Sale Shares3,56,63,585 shares of ₹2 (aggregating up to ₹592.02 Cr)
About Happiest Minds Technologies Ltd.
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 Strengths1. Focused on software product development2. Strong Brand in offering Digital IT services3. End to End digital lifecycle4. Agile Engineering and Delivery
Objects of the Issue
Happiest Minds Technologies Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
1 To meet long term working capital requirements
101.00
2
2 General corporate purposes
3.03
Shareholding & Lock-in
Pre-IPO Promoter Holding
14,02,37,050 shares
Post-IPO Promoter Holding
14,68,63,556 shares
Lock-in Period (30%)October 14, 2020
Lock-in Period (50%)December 13, 2020