Happiest Minds IPO Subscribed Over 150 Times

The IPO of Happiest Minds Technologies, which has drawn strong response from investors, was 77.51 times subscribed as of 4 pm today. Happiest Minds IPO opened on Monday and will close today. Happiest Minds Technologies has raised ₹316 crore from anchor investors ahead of the IPO.

The price band of the offer has been fixed at ₹165 to ₹166 per equity share. The offer comprises a fresh issuance of shares aggregating up to ₹110 crore and an offer for sale of up to 3.56 crore equity shares.

KFin Technologies Private Limited is the registrar of the Happiest Minds IPO. ICICI Securities and Nomura Financial Advisory and Securities (India) are the managers for the offer.

Happiest Minds shares are likely to get listed on September 17, 2020, according to brokerages. The minimum lot size is 90, which means investors have to apply for a minimum of 90 shares and in multiples thereafter.

Happiest Minds Technologies shares are proposed to be listed on the BSE and the NSE.

Happiest Minds, incorporated in 2011, is a Bangalore based IT service provider, drawing most of the income from the digital space. As of June 30, 2020, Happiest Minds had 148 active customers and presence in countries like US, UK, Australia, Canada and the Middle East.

In FY20, the company had reported revenues of ₹714 crore - growing at a CAGR of 20.8% between FY18 and FY20. It has over 2,600 employees. In FY20, it had reported profit of ₹72 crore.

Many analysts have recommended subscribe to the IPO.

Domestic brokerage Geojit Financial Services has recommended a subscribe to Happiest Mind IPO.

"At the upper price band of Rs.166, Happiest Minds is available at P/E of 34x FY20 which is at a premium when compared to its large and midcap peers. However, post annualizing Q1FY21 numbers we arrive at a P/E of 12xFY21 which seems attractive. With strong management pedigree and growth potential in a post Covid-19 scenario, we recommend ‘SUBSCRIBE’ rating for this IPO with a long-term perspective," the brokerage said.

Another brokerage Motilal Oswal also likes the issue. "We like the company given its (1) strong presence in digital services, (2) scalable business model with end-to-end capabilities and (3) fast improving financial performance. Hence, investors can Subscribe to the IPO. Further considering market conditions and bright prospects for IT companies post Covid-era, one may also get listing gains," it said.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res

Abhishek Securities

Search This Blog