Happiest Minds Technologies Limited IPO – Update
Update
“Award for Excellence in Corporate Governance“
Happiest Minds Technologies Limited – a Mindful IT Company today in its regulatory filing has said that the company is a recipient of the prestigious “Golden Peacock Award for Excellence in Corporate Governance” (GPAECG) for the year 2022.
Golden Peacock Awards (instituted by Institute of Directors, India in the year 1991) are now regarded as an industry benchmark of Corporate Excellence worldwide.
“Golden Peacock Award for Excellence in Corporate Governance” aims to promote high standards of corporate governance practices based on the Golden Peacock Awards Business Excellence Model.
MD & CFO Speech –
Speaking about the award, Mr. Venkatraman Narayanan said, “We are committed to mindful corporate citizenship & conduct. Our Company’s vision from inception calls out ‘adherence to the highest levels of Corporate Governance’ as one of our fundamental tenets.
“The Golden Peacock – For Excellence in Corporate Governance” is a pinnacle award that publicly acknowledges our efforts in this direction, and I am extremely delighted to receive this prestigious award which is a testament to our success. It’s indeed an important milestone in our Company’s life journey.”
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06 September 2020
Happiest Minds Technologies Limited (Happiest Minds) – a Mindful IT Company is planning to raise INR 702.01 Cr via IPO [110 Cr Fresh Issue + 592.01 Cr OFS]
Happiest Minds: Company Profile
Incorporated in the year 2011, Happiest Minds Technologies Limited is a Bangalore based IT service provider Company, and is positioned as “Born Digital. Born Agile“
Happiest Minds: Business
The business of Happiest Minds is divided into three categories –
Digital Business Service (DBS) – The Company’s DBS offerings are aimed at,
- Driving digital modernisation and transformation for its customers through digital application development and application modernisation for an improved customer experience, enhanced productivity and better business outcomes;
- Implementation of solutions, development and implementation of solution, capabilities for improving data quality of the customer’s platform, assistance in designing and testing of operations and management of platform and modernisation of digital practices; and
- Consulting and domain led offerings such as digital roadmap, mindful design thinking, and migration of on-premise applications to cloud.
Product Engineering Service (PES) – The Company’s PES aims to,
- Help its customers capitalise on the transformative potential of ‘digital’ by building products and platforms that are smart, secure and
- Happiest Minds provide its customers a blend of hardware and embedded software knowledge which combines with its software platform engineering skills to help create high quality, scalable and secure solutions.
- The Company’s offerings extend across the development lifecycle from strategy to final roll out while ensuring quality. We get our clients started on this journey with our digital foundry that allows us to build rapid prototypes for our customers and provide a scalable Minimum Viable Product (MVP).
- The Company embrace a cloud and a mobile friendly approach along with an agile model that is supported by test automation to help its clients accelerate their time to market and build a competitive advantage.
Infrastructure and Management Security Service (IMSS) – The Company’s IMSS offerings provide,
- End to end monitoring and management capability with secure ring fencing of our customers’ applications and infrastructure, Happiest Minds provide continuous support and managed security services for mid-sized enterprises and technology companies.
- Specialized in automation of business and IT operations with DevSecOps model and with NOC/SOC, the company strive to ensure that the data center, cloud infrastructure and applications are safe, secure, efficient and productive.
- Its security offerings include cyber and infrastructure security, governance, risk & compliance, data privacy and security, identity and access management and threat and vulnerability management.
- Our infrastructure offerings include DC and hybrid cloud services, workspace services, service automation (RPA, ITSM & ITOM), database and middleware services and software defined infrastructure services.
All the business units of Happiest Minds are supported by following Centres of Excellence –
- Internet of Things (IoT),
- Analytics & Artificial Intelligence (AI), and
- Digital Process Automation (DPA)
Happiest Minds: Active Customers
As of 31 March 2020, the company had 157 active customers with average revenue per customer at USD 614,675 in FY 2020.
Happiest Minds: Competitive Strengths
- Strong brand in Digital IT services
- Growing high revenue generating customer accounts with a high proportion of repeat revenues and revenues from mature markets
- Scalable business model with multiple drivers of steady growth
- End to End capabilities spanning the digital lifecycle from roadmap to deployment and maintenance
- Strong R&D capability with depth in disruptive technologies creating value through newly engineered solutions
- Agile Engineering and Delivery
Company Promoter/s:
Ashok Soota, Promoter, Executive Chairman, and Director of Happiest Minds have several years of experience in the IT industry. Prior to founding Happiest Minds Technologies Limited, Mr. Soota was associated with Wipro Limited as its Vice Chairman and Mindtree Limited as its Chairman and Chief Executive Officer.
He has been conferred with a Dataquest IT Man of the Year, 2017, a Dataquest Lifetime Achievement Award for outstanding contribution in organizing and building the Indian software industry, an IT Lifetime Achievement Award from the Financial Express, and a Lifetime Achievement Award from Chiratae Ventures (formerly known as IDG Ventures)
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
Financial Performance
CONCLUSION
Considering company’s valuation, financial parameters, and the sector potential, FinBlab recommends SUBSCRIBE ratings on Happiest Minds Technologies Limited IPO
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