Happiest Mind Technologies IPO
(i) Positioned as “Born Digital. Born Agile”, the happiest mind focus on delivering a seamless digital experience to the customers. The offerings include digital business, product engineering, infrastructure management, and security services.
(ii) Happiest Mind provides end-to-end solutions in the digital space. They also offer solutions across the spectrum of various digital technologies such as Robotic Process Automation (RPA), Software-Defined Networking/Network Function Virtualization (SDN/NFV), Big Data and advanced analytics, Internet of Things (IoT), cloud, Business Process Management (BPM) and security.
(iii) In Fiscal 2020, 96.9% of the happiest mind revenues came from digital services. This is one of the highest among Indian IT companies (Source: Frost & Sullivan Report). The Frost & Sullivan Report notes that the legacy IT market as a percentage of total technology spend is estimated to decline from 85.7% share in 2019 to 65% share by 2025, with digital spend making up the remaining 35% share by then. The Frost & Sullivan Report estimates the global digital services market of USD 691 billion in 2019 to grow at a CAGR of 20.2% to USD 2,083 billion by 2025.
(iv) As of March 31, 2020, the Happiest Mind has 157 active customers. The repeat business (revenue from existing customers) has steadily grown and contributed a significant portion of our revenue from contracts with customers over the years indicating a high degree of customer stickiness.
(v) In Fiscal 2020, they delivered 87.9% of the projects through the agile delivery methodology. Over the years and currently, during the ongoing outbreak of Novel Coronavirus, they have successfully implemented business continuity plans including to achieve efficient work-from-home practices to ensure connectivity across the enterprise.
(vi) In the Great Place to Work® 2019 survey, Happiest Mind was ranked among India’s Top 25 Best Workplaces for Women. They have also received a great place to Work® Certification. As of March 31, 2020, they had a Glassdoor rating of 4.1 on a scale of ‘1-5’, among the highest for Indian IT services companies(Source: Frost & Sullivan Report).
Objects of the Happiest Mind Technologies IPO:
Happiest Mind Technologies IPO Details:
|Open Date:||Sep 07 2020|
|Close Date:||Sep 09 2020|
|Face Value:||₹ 2 Per Equity Share|
|Issue Type:||Book Building|
|Issue Size:||702 Cr.|
|Lot Size:||90 Shares|
|Issue Price:||₹ 165-166 Per Equity Share|
|Listing Date:||Sep 17 2020|
Promoters And Management:
Financials of Happiest Mind Technologies IPO:
|Year||Long-Term Debts||Short-Term Debts||Total Debt||NW||Debt/NW||RONW||CE||ROCE|
|Year||Current Assets||Current Liabilities||Current Ratio||CFO||Capital Exp||FCF|
Comparison With Peers:
Recommendation on Happiest Mind Technologies IPO:
|2nd Day 6:00PM||0.47x||3.96x||38.55x||8.40x|