Given his age and the fact that the heydays of outsourcing were long gone, several analysts and reporters wondered if this was going to work at all. But Mr. Soota was aiming higher. He was clear from the beginning that he’ll take the company public. And he wanted Happiest Minds to become the fastest company […]
“We believe Happiest Minds IPO offer gives investor a unique opportunity to own a digital product engineering company. We see digital engineering business is growing much faster than traditional IT business and it is well positioned to overcome the business challenges due to the COVID-19 pandemic with high exposure into ‘edutech’ and ‘high tech’ verticals […]
The brokerage also cited more strong reasons for its recommendation – Scalable business model with multiple drivers of steady growth; end to end capabilities spanning the digital lifecycle from roadmap to deployment and maintenance; strong R&D capability; agile engineering and delivery; strong promoter – Ashok Soota (erstwhile co-founder of Mindtree); and improved financial performance.
The offer comprises a fresh issuance of shares aggregating up to Rs 110 crore and an offer for sale of up to 3.56 crore equity shares.
New Delhi: The initial public offering of IT services firm Happiest Minds Technologies garnered massive response from investors as it was subscribed a whopping 151 times on the last day of bidding on Wednesday.
The initial public offering of IT services firm Happiest Minds Technologies garnered a massive response from investors as it was subscribed a whopping 151 times on the last day of bidding on Wednesday.
The issue will open on September 18 and close on September 23. The company is looking to raise money to develop software, infra, and strategic acquisition in technology space. It would also use the funds to develop a larger team, acquire assets, and for other issue expenses.
“On valuations parse at upper price band (Rs 350 per share), the issue is asking for market cap Rs 1,990 crore and we believe the company can comfortably command a PE of 24x-25x, which makes the IPO valuation fairly attractive for long term investors. Considering all the parameters we recommend to subscribe for the issue, […]
The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece.
Vittoria Fund – OC and Oxbow Master Fund acquired 1,62,171 and 4,18,075 equity shares, respectively, in Amber at Rs 1,835.03 per share. Newport Asia Partners Fund and Newport Asia Institutional Fund bought 1,73,979 and 2,21,857 shares, respectively, at Rs 1,839.48 per share.