Happiest Minds Technologies Limited IPO
Happiest Minds Technologies Limited IPO
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The public market debut of Happiest Minds Technologies Limited's was completed on 17-09-2020 with its listing on the NSE, BSE exchange. The IPO process raised 4,22,90,091 Shares in total capital, consisting of 66,26,506 Shares in new equity and ₹592.02 Cr in existing share sales through the OFS route.
The offering featured a price range of ₹165 to ₹166 and minimum application size of 90 shares. Investor response during the subscription period from 07-09-2020 to 09-09-2020 influenced the final allotment ratios across investor categories.
Final allotment was announced on 15-09-2020, distributing shares to successful subscribers. The listing established a continuous market for the company's shares, enabling liquidity, valuation transparency, and broader investor participation.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Happiest Minds IPO About Company
Happiest Minds Ltd, incorporated in 2011, is a Bangalore-based IT service provider known for its "Born Digital. Born Agile" approach. The company operates in three main business segments: Digital Business Services (DBS), Product Engineering Services (PES), and Infrastructure and Management Security Services (IMSS). The DBS unit focuses on digital application development and modernization, platform management, consulting, and domain-led solutions. The PES unit enhances digital capabilities by making products smarter and more secure, while the IMSS unit provides end-to-end monitoring and management for client applications and infrastructure. As of June 30, 2020, Happiest Minds had 148 active customers and a global presence in countries like the US, UK, Australia, Canada, and the Middle East. The company's business units are supported by three Centres of Excellence specializing in the Internet of Things, Analytics and Artificial Intelligence, and Digital Process Automation. In the fiscal year 2020, 96.9% of its revenue came from digital services, making it one of the leading Indian IT companies in this sector. Happiest Minds serves a wide range of industries, including retail, edutech, industrial, BFSI, hi-tech, engineering R&D, manufacturing, travel, media, and entertainment.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Happiest Minds IPO Strength Factors
- Specialized in software product development.
- Well-known brand in Digital IT services.
- Complete digital lifecycle solutions.
- Agile engineering and seamless delivery.
Happiest Minds IPO Risk Factors
- The two book-running lead managers have handled 11 public issues in the last three years, with 5 listing below the issue price.
- The promoter's average acquisition cost is ₹34.68, and the investor's is ₹24.91, while the offer price at the upper end is ₹166.
- The issuer's PE ratio at the upper price band is 31.0, higher than the industry average of 26.9.
Happiest Minds IPO Lead Manager(s)
- ICICI Securities Limited
- Nomura Financial Advisory And Securities (India) Private Limited
Happiest Minds IPO Promoter(s)
- Mr. Ashok Soota
Happiest Minds IPO FAQs
Happiest Minds Technologies Limited IPO subscribed 0 times. The public issue subscribed 70.94 times in the retail category,77.43times in QIB, and -- times in the HNI (10+) category byDecember 22, 2025 12:05:01 PM (Day 22).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Happiest Minds IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Happiest Minds IPO FAQs
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