[ad_1]
The IPO of Happiest Minds Technologies, which has drawn sturdy response from traders, was 8.3 times subscribed on the finish of Day 2. Happiest Minds IPO opened on Monday and can shut on Wednesday (September 9). At the top of Day 1, the ₹700 crore IPO was 2.9 times subscribed. Happiest Minds Technologies has raised ₹316 crore from anchor traders forward of the IPO.
The worth band of the provide has been fastened at ₹165 to ₹166 per fairness share. The provide contains a recent issuance of shares aggregating up to ₹110 crore and a proposal on the market of up to 3.56 crore fairness 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 provide.
Likely Listing Date and Lot Size
Happiest Minds shares are doubtless to get listed on September 17, 2020, in accordance to brokerages. The minimal lot dimension is 90, which implies traders have to apply for at least 90 shares and in multiples thereafter.
Happiest Minds Technologies shares are proposed to be listed on the BSE and the NSE.
Happiest Minds, integrated in 2011, is a Bangalore based mostly IT service supplier, drawing many of the earnings from the digital area. As of June 30, 2020, Happiest Minds had 148 lively clients and presence in international locations like US, UK, Australia, Canada and the Middle East.
In FY20, the corporate had reported revenues of ₹714 crore – rising at a CAGR of 20.8% between FY18 and FY20. It has over 2,600 staff. In FY20, it had reported revenue of ₹72 crore.
Many analysts have really helpful subscribe to the IPO.
Domestic brokerage Geojit Financial Services has really helpful 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 stated.
Another brokerage Motilal Oswal additionally likes the difficulty. “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 stated.
[ad_2]
Source hyperlink