The Mindful IT Company provides infrastructure management, digital transformation, security, and product engineering services.
Happiest Minds Ltd was established by Ashok Soota back in 2011. Now, 9 years later, the Bangalore based IT service company is on its way to launch its stock market.
Mind you, this is the first initial public offering by an Information Technology company in the past few years. The last IT Corporation to be listed on the stock exchange was Larsen & Toubro Infotech.
Mark your calendars, because the IPO is set to initiate its subscription on 7th September and will remain open for trading till the 9th of September. You can buy and sell shares at any time between 10 am up until 5 pm.
The price band of the issue will remain stagnant at RS 165-166 per share. At the higher end of the price bracket, the IPO will gain Rs 702 crore.
The issue of Rs 702 crore consists of two main segments: IPO and OFS. The offer comprises a fresh issue of 0.67 crore shares and an OFS of 3.56 crore shares by exponents, aggravating a total of Rs 110 Cr and 592 Cr respectively.
The face value of the shares is Rs 2 per equity share. The allotment of shares will be finalized on 14th September and the IPO shares listing will be uploaded on the BSE and the NSE 3 days later.
An investor will not be allowed to bid on any less than 90 shares and must continue to bid in clusters of 90 after that
Following SBI card private banking company and Rossari Biotech, Happiest Minds IPO is the third security exchange listing in 2020. Unluckily, the public offering is being released amidst the coronavirus pandemic with India surpassing a total of 160k deaths.