Happiest Minds Technologies IPO: All You Need to Know about Subscription

Ashok Soota-promoted company’s IPO includes fresh issue of 66.2 lakh shares and offer for sale (OFS) of up to 356.6 lakh shares. With the offering of the IPO, the promoter’s stake in the company will plunge from 62 per cent to 53 per cent.

The company has a global presence in countries like the UK, the US, Australia, Canada and West Asia. According to livemint, Happiest Minds Technologies, founded in 2011, had 148 active customers globally as on June 30. Its major revenue, more than 95 per cent, comes from digital IT services.

Ashok Soota, who was the founding chairman and managing director of MindTree Limited, also served as the vice-chairman of Wipro Limited.

“Digital is growing much faster than the traditional market and, therefore, we are able to grow at 20-plus per cent compounded whereas the industry has come down to 8-10 per cent,” the news website reported quoting Soota.