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Happiest Minds Technologies Ltd IPO (Happiest Minds IPO) Detail

Sep 7, 2020 - Sep 9, 2020

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 Strengths

1. Focused on software product development
2. Strong Brand in offering Digital IT services
3. End to End digital lifecycle
4. Agile Engineering and Delivery

Company Promoters:

Mr. Ashok Soota is the promoter of the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (Rs in Million)
30-Jun-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 5,730.8 5,081.5 4,135.2 3,869.9
Total Revenue 1,869.9 7,142.3 6,018.1 4,891.2
Profit After Tax 501.8 717.1 142.1 (224.7)

Objects of the Issue:

The company proposes to utilise the Net Proceeds from the fresh issue towards funding the following objects:

1. To meet long term working capital requirement; and
2. General corporate purposes

Happiest Minds IPO Details

IPO Opening Date Sep 7, 2020
IPO Closing Date Sep 9, 2020
Issue Type Book Built Issue IPO
Face Value ₹2 per equity share
IPO Price ₹165 to ₹166 per equity share
Market Lot 90 Shares
Min Order Quantity 90 Shares
Listing At BSE, NSE
Issue Size42,290,091 Eq Shares of ₹2
(aggregating up to ₹702.02 Cr)
Fresh Issue6,626,506 Eq Shares of ₹2
(aggregating up to ₹110.00 Cr)
Offer for Sale35,663,585 Eq Shares of ₹2
(aggregating up to ₹592.02 Cr)

Happiest Minds IPO Tentative Timetable

The Happiest Minds IPO open date is Sep 7, 2020, and the close date is Sep 9, 2020. The issue may list on Sep 17, 2020.

IPO Open Date Sep 7, 2020
IPO Close Date Sep 9, 2020
Basis of Allotment Date Sep 14, 2020
Initiation of Refunds Sep 15, 2020
Credit of Shares to Demat Account Sep 15, 2020
IPO Listing Date Sep 17, 2020

Happiest Minds IPO Lot Size

The Happiest Minds IPO market lot size is 90 shares. A retail-individual investor can apply for up to 13 lots (1170 shares or ₹194,220).

Application Lots Shares Amount (Cut-off)
Minimum 1 90 ₹14,940
Maximum 13 1170 ₹194,220

Happiest Minds IPO Promoter Holding

Pre Issue Share Holding 61.77%
Post Issue Share Holding 53.25%

Happiest Minds IPO Offer Size by Investor Category

The Percentage of Offer Size available for Allotment/allocation:

  • QIBs: 75%
  • Non-Institutional Investors: 15%
  • Retail Individual Investors: 10%

Risks to Investors in Happiest Minds IPO

  • The two book running lead managers associated with the Offer have handled 11 public issues in the past three years out of which 5 closed below the issue price on the listing date.
  • The average cost of acquisition for the Promoter Selling Shareholder is Rs 34.68 and the Investor Selling Shareholder is Rs 24.91, and the offer price at the upper end of the price band is 166.
  • The PE ratio based on diluted EPS for Fiscal 2020 for the Issuer at the upper end of the Price Band is as high as 31.0 as compared to the average industry peer group PE ratio of 26.9.

Happiest Minds IPO Subscription Status (Bidding Detail)

The Happiest Minds IPO is subscribed 150.98 times on Sep 9, 2020 17:00. The public issue subscribed 70.94 in the retail category, 77.43 in the QIB category, and 351.46 in the NII category. Check Day by Day Subscription Details (Live Status)

Application Wise IPO Subscription (Retail): 2201505 times

CategorySubscription (times)
QIB

77.43

NII

351.46

RII

70.94

Total

150.98

Happiest Minds IPO Prospectus

Happiest Minds IPO Rating

2286
4.1
Rating:Rated 4.1 stars
Vote Here ...

Happiest Minds IPO Listing Date

Listing Date Thursday, September 17, 2020
BSE Script Code 543227
NSE Symbol HAPPSTMNDS
Listing In B Group of Securities
ISIN INE419U01012
IPO Price ₹166 per equity share
Face Value ₹2 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹166.00
₹351.00
₹351.00
₹395.00
₹371.00
NSE
₹166.00
₹350.00
₹350.00
₹394.95
₹370.95

Company Contact Information

Happiest Minds Technologies Ltd
53/1-4, Hosur Main Road,
Madivala (Next to Madivala Police Station),
Bengaluru - 560 068
Phone: +91 80 6196 0300
Email: investors@happiestminds.com
Website: http://www.happiestminds.com/

Happiest Minds IPO Registrar

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: happiestminds.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Happiest Minds IPO FAQs

Happiest Minds IPO is a main-board IPO of 42,290,091 equity shares of the face value of ₹2 aggregating up to ₹702.02 Crores. The issue is priced at ₹165 to ₹166 per equity share. The minimum order quantity is 90 Shares.

The IPO opens on Sep 7, 2020, and closes on Sep 9, 2020.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Happiest Minds IPO using UPI as a payment gateway. Zerodha customers can apply in Happiest Minds IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Happiest Minds IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Happiest Minds IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Happiest Minds IPO opens on Sep 7, 2020 and closes on Sep 9, 2020.

Happiest Minds IPO lot size is 90 Shares and the minimum order quantity is 90 Shares.

You can apply in Happiest Minds IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Happiest Minds IPO will be done on Sep 14, 2020, and the allotted shares will be credited to your demat account by Sep 15, 2020. Check the Happiest Minds IPO allotment status.

The Happiest Minds IPO listing date is on Thursday, September 17, 2020.

Happiest Minds IPO Message Board

Ranked Members  Ranked Members

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768. Re.analist |Oct 8, 2020 20:46
Chair person of Ashok soota is 19640 IIT BETECH ENG . HI IS CO FOUNDED MINDTREE COMPANY 1999 , 35/40 YEAR'S EXPERIENCE IT SOFTWARE SOLUTION BUSINESS .
I THINK GOOD COMPANY OF HAPPIEST MIND FOR LONG TIME ????????????
Success full manage 2 company in past .
767. Saravanan |Oct 8, 2020 11:44
how to check allotment status
766. rsk |Oct 2, 2020 08:23
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Have changed QIB quota to 51000 only and added rest to NII.
765. alekh |Oct 2, 2020 02:12
Anyone who still haven't received back payments of Happiest mind ipo - its 1 october expiry was on 26th any idea how to get back please reply would be really helpful
764. IPO Daddy |Oct 1, 2020 10:11
hehe bakwass listing . this is what happens when all get allotment?
763. VINOD JAIN NICKY |Sep 25, 2020 18:54
Amount is still blocked . It was blocked through UPI BHIM APP. NO ALLOTMENT IS THERE.
763.1. Cheers Chiranjit |Sep 27, 2020 00:22
Send an email to einward.ris@karvy.com. Else it will be auto-unblocked on mandate-end date which I think was 27/28th. Faced similar issue. Got it unblocked 4days back by emailing them.
762. VINOD JAIN NICKY |Sep 25, 2020 18:54
Amount is still blocked . It was blocked through UPI BHIM APP. NO ALLOTMENT IS THERE.
761. EnGee |Sep 25, 2020 18:28
How can one raise the concerns / issues with the registrar of an IPO to SEBI, about the unfair practices / mal-practices followed in allotment of shares in the lottery?
I just received the allotment basis data for Happiest Minds IPO. For the applications of 1 lot (ie applications demanding 90 shares) the allotment ratio was 52:4061, and for applications of rest of the lots ie applications of 2 lots to 13 lots ie applications demanding 180 shares to 1170 shares, the allotment ratio was common 11:436.
In this case, what is the point of applying for highest lot?
Will this strategy not encourage people to subscribe in the IPO with application of smaller lots from DEMAT accounts of other people, which is not right actually?

I think Karvy (K F Infotech) must be interrogated for the reason behind this kind of allotment strategy.

In future, I will think well before applying for an IPO for which Karvy is appointed as registrar.
760. Chem cho |Sep 24, 2020 13:23
IPO Guru IPO Guru (2200+ Posts, 2300+ Likes)
Should be Bumber Listing
Price is very cheap @ Rs 554
Nifty at 10950 sensex 37037 1.20 PM DATE 24/09/2020
Should apply even if NIFTY Tests Lower Than 10900 -10800
760.1. RJ Rocks |Sep 24, 2020 13:33
Chen cho sir apne UTI AMC ka review happiest mind me dal diya.
760.2. Chem cho |Sep 24, 2020 13:33
IPO Guru IPO Guru (2200+ Posts, 2300+ Likes)
sorry wrongly post in happiest MINDS

THIS POST is for UTI asset MANAGEMENT
759. Nitin Verma |Sep 17, 2020 19:46
Is anyone else who have not got the refund till yet? My amount is still blocked with Union bank. What to do?
759.2. Himanshu chodavadiya |Sep 21, 2020 16:58
Same problem
759.3. Nitin Verma |Sep 21, 2020 17:09
Yes I got the amount. Please wait for 1 more day or connect with your bankm
758. Himanshu chodavadiya |Sep 21, 2020 07:42
I haven't received blocked amount .I used bhim UPI .plz anybody can help
757. Aniketiaf |Sep 15, 2020 15:48
IPO Guru IPO Guru (1500+ Posts, 9100+ Likes)
0/6
I think, my PAN no. is reserved for Route mob.
Congratulations to all allottee.
757.20. harit |Sep 19, 2020 11:01
IPO Guru IPO Guru (1700+ Posts, 3000+ Likes)
@Aniket ji and others who bid multiple applications in the name of family members.

Anyone found any pattern in last couple of years allotments?

I put 7 application most of the times but allotments comes in 2-3 names only

My parents never got allotment when ipo over subscribed

My grand parents got maximum number of allotments (all crucial like Dixon,amber irctc happiest,fine org. ,And many more)

Other 3 members got 1-2 allotments

÷history of last 3 years÷

Dose other board members finding this kind of experience or my family is unique?

(I don't believe that Karvy or Link intime are doing anything improperly or wrongly)
757.21. Owls eye |Sep 20, 2020 07:15
Top Contributor Top Contributor (400+ Posts, 1400+ Likes)
@Harit,

Yes similar situation with me!

My parents got allotment in one in every two ipos. Like Dixon, Smart, IRCTC, Ujjivan, etc.
756. kiran mahadev anpat |Sep 19, 2020 22:48
Can anybody applied maximum allotments and received any single allotment? Please let me know.
755. IPO Mitr |Sep 19, 2020 12:33
Top Contributor Top Contributor (200+ Posts, 600+ Likes)
In the short term, HMT will go below 350 (listing price) and will give opportunity to enter for investors who believe in this stock for long term.

Short term investors may look to exit.

Suno sabki par karo sirf apne man ki

754. Ayush Jindal |Sep 17, 2020 20:52
Total Free Float Shares = 2,32,59,550 shares
Today’s EOD Delivery (NSE+BSE) = 2,20,27,093 (94.70%)
So that means 94.70% of Shareholders have Booked profit on listing day itself only.

Kindly think twice to make position in happiest mind at CMP of 370 after analyzing the above data.

Regards,
Ayush Jindal
754.4. Prashant Pednekar |Sep 18, 2020 14:18
@AhireR, Yes but if you see the forward earning 2021/22 its just 19. Plus coming from a service sector I wonder its rated so well on Glassdoor and into all the latest of technologies. Also a pizza seller demands a 105 PE and its not expensive so I feel if the growth remains for a year more than 500 will look peanuts to buy this stock. That's my medium term outlook.
754.5. AhireR |Sep 18, 2020 14:45
IPO Mentor IPO Mentor (600+ Posts, 900+ Likes)
It has already corrected 10% from yesterday's high..That's what I say, price is everything..
753. Neelesh Chouhan |Sep 18, 2020 08:57
Alloted 3 lot out of 12
Hold karu ya sale kar du.
Kindly guides.
753.1. Msharma |Sep 18, 2020 09:41
Your risk your decision.
752. RAHUL RAM |Sep 17, 2020 20:18
SIRF PROMOTOR K FAMILY WALE KO MILA HOGA
751. Eagleye |Sep 17, 2020 10:25
IPO Guru IPO Guru (6000+ Posts, 20200+ Likes)
Total Free Float = 23,259,550 shares

Done:
Pre-opening Delivery (NSE+BSE) = 6,058,614 (26.05%)

Estimated:
Today’s EOD Delivery (NSE+BSE) = 20,000,000 (86.0%)
751.3. BubbleBoy |Sep 17, 2020 14:17
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
@haar

Only Anchor portion has 30 days lock in period, rest Ipo participants are free to sell. :)
751.4. papon |Sep 17, 2020 18:52
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Eagle mam 2 crores 20 lakhs taken as delivery (NSE + BSE). Very few free float shares left
750. Marwari |Sep 17, 2020 18:15
ON this price level
1. what about PE? on 166 pe was 30+ and today's closing price 370 PE is 65+. Is that justify the share price?
2. Promotor age is 77. How long he will run the company.
3. Why promotor offload his stake.
749. SathishRAVI |Sep 16, 2020 19:49
I got allotment and I got email and messages from NSDL. But still I couldn't see the shares in holding. I'm using zerodha..
749.2. Deepak Peswani |Sep 16, 2020 21:33
Same for me, cannot see the share in the holdings
749.3. Deepak Peswani |Sep 17, 2020 17:51
Did you got the share credited? I still don't.