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Check Happiest Minds IPO allotment status

Happiest Minds IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

  1. To Check Happiest Minds IPO Allotment Status
  2. Go to Application Status
  3. Select IPO as Happiest Minds Technologies Ltd
  4. Enter your PAN Number or Application Id or DP Client Id.

Happiest Minds Technologies is a digital transformation, infrastructure, security, and product engineering services company. Company focuses on delivering a seamless digital experience to customers. Its capabilities provide end to end solution in the digital space. Company has developed a customer-centric focus that aims to fulfil their immediate business requirements and to provide them strategically viable, futuristic and transformative digital solution.

Happiest Minds Technologies Limited IPO

Wants To Apply Online

Business units are supported by the following three Centres of Excellence (CoEs):

Internet of Things, Analytics / Artificial Intelligence, Digital Process Automation

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Issue Details

Objects of the issue ·        To meet long term working capital requirement.

·        General corporate purpose

 

Issue Size Issue Size: Rs.698.45 Cr. – 702.02 Cr.

Offer for Sale- 3,56,63,585 equity shares

Fresh Issue-  Rs.110 Crore

Face value  

Rs.2 Per Equity Share

Issue Price Rs. 165 – Rs. 166
Bid Lot 90 shares
Listing at  

BSE, NSE

Issue Opens: 7th September  2020 – 9th  September 2020
QIB 75% of Net Issue Offer
NIB 15% of Net Issue Offer
Retail 10% of Net Issue Offer

Financial Performance:

Financial-Performance

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Shareholding Pattern:

Shareholding Pattern Pre- Issue Post Issue
Promoters & Promoters Group 61.77% 53.25%
Public & Others 38.23% 46.75%


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Source: DRHP, EWAL Research

Strengths:

  • Scalable business model with multiple drivers of steady growth
  • Strong R&D capability with depth in disruptive technologies creating value through newly engineered solutions.
  • Focused on software product development and Strong Brand in offering Digital IT services

Key Highlights:

  • According to The Frost & Sullivan Report 96.9% of company’s revenues came from digital services. This is one of the highest among Indian IT companies.
  • In Fiscals 2019 and 2020 and the three months ended June 30, 2020, 97.2%, 96.9% and 96.3% respectively of the revenue from operations was from providing digital IT services.
  • The Frost & Sullivan Report estimates the global digital services market of $691bn in 2019 to grow at a CAGR of 20.2% to $2,083bn by 2025.

Risk Factors:

  • Revenues from operations are highly dependent on customers located in the United States. Worsening economic conditions or factors that negatively affect the economic conditions of the United States could materially adversely affect companies business, financial condition and results of operations.
  • Company generates a significant portion of revenues from a small number of customers, and any loss or reduction of business from these customers could reduce revenues and materially adversely affect companies business.

Outlook:

Happiest Minds Technologies offers three services: Digital Business Services (DBS); Product Engineering Services (PES) and Infrastructure Management & Security Services (IMSS). The Company has repeat business from its customer base, which includes more than 35 Fortune 2000 / Forbes 200 / Billion $ corporations. The Company is focused on continuing to expand their relationships with existing customers by helping them solve new problems and become more engaging, responsive and efficient. In Fiscal 2020, 96.9% of company’s revenues came from digital services. This is one of the highest among Indian IT companies. It received 77.3 percent revenue from US clients, 10.9 percent from India and 9.8 percent from UK in FY20. Happiest Minds is seeing growth revive in education, healthcare and information security solutions as global customers step up technology investments to keep pace with rising demand from their clients. At the higher end of the price band of Rs. 166, the stock is available at a PE of 23.5x on FY20 Basic EPS which is comparable to peers. Company has futuristic business model therefore we would recommend subscribe to this IPO.


 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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