Happiest Minds Technologies IPO
Happiest Minds Technologies IPO — date, price band, lot size & details 2020
Happiest Minds Technologies listed on 17 Sep 2020 at ₹350, 110.8% above the ₹166 issue price.
Happiest Minds Technologies is a Bangalore based IT services company focused on digital transformation, product engineering and infrastructure management. Its total income was Rs 714.23 crore in FY2020.
Stock price
Happiest Minds Technologies is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 07 Sep 2020
- Close 09 Sep 2020
- Allotment 14 Sep 2020
- Refund/credit 15 Sep 2020
- Listing 17 Sep 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 7 to 9 Sep, 2020 |
|---|---|
| Price Band | ₹165 – ₹166 |
| Face Value | ₹2 |
| Lot Size | 90 Shares |
| Issue Size | ₹702.02 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,940 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 90 shares at the ₹166 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 489.12 crore in FY2018 to Rs 714.23 crore in FY2020.
- 02It moved from a loss of Rs 22.47 crore in FY2018 to a profit of Rs 71.71 crore in FY2020.
- 03EBITDA rose from Rs 7.62 crore in FY2018 to Rs 113.12 crore in FY2020.
- 04Digital services made up 96.9% of FY2020 revenue.
- 05Net worth was Rs 319.01 crore on 30 June 2020.
Risks · 6
- 01Net worth was negative at Rs 109.02 crore in FY2018 and Rs 67.27 crore in FY2019.
- 02It had 148 active customers on 30 June 2020, so losing a large account would hurt revenue.
- 03Profit in FY2019 was only Rs 14.21 crore, so the profit record is short.
- 04Rs 592.02 crore of the Rs 702.02 crore issue was offer for sale, not new money for the company.
- 05Total borrowing was Rs 98.19 crore on 30 June 2020.
- 06Promoter holding fell from 61.77% before the issue to 53.25% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Happiest Minds Technologies offer document.
| Metric | 30 Jun 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 573.08 | 508.15 | 413.52 | 386.99 |
| Total Income | 186.99 | 714.23 | 601.81 | 489.12 |
| Profit After Tax | 50.18 | 71.71 | 14.21 | -22.47 |
| EBITDA | 47.82 | 113.12 | 66.28 | 7.62 |
| NET Worth | 319.01 | 264.21 | -67.27 | -109.02 |
| Reserves and Surplus | 285.62 | 220.18 | -94.32 | -134.92 |
| Total Borrowing | 98.19 | 78.43 | 75.91 | 90.23 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹104.03 Cr of the issue is earmarked to named objects.
About the company
Positioned as "Born Digital. Born Agile", it offers digital transformation, product engineering, infrastructure management and security services. Its work spans robotic process automation, big data and analytics, IoT, cloud and security.
As of 30 June 2020 it had 148 active customers. In FY2020, 96.9% of its revenue came from digital services.
The IPO was Rs 702.02 crore, with Rs 110.00 crore of fresh issue and Rs 592.02 crore of offer for sale by Ashok Soota and CMDB II. The fresh money was mainly planned for long term working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Happiest Minds Technologies IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
24 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Happiest Minds Technologies?
The current Grey Market Premium is ₹147.5, or 89% over the issue price.
What is the Happiest Minds Technologies IPO price band?
₹165 to ₹166, on a face value of ₹2.
When is the allotment?
The basis of allotment is 14 September 2020, with listing on 17 September 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
