Happiest Mind Technologies has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The offer consists of a fresh issue of shares aggregating up to Rs 110 crore and offer for sale of up to 3.56 crore equity shares. The company's shares are proposed to be listed on the BSE and NSE.
This is the first major IPO announced by a company since the imposition of lockdown in the country in March to tackle the COVID-19 pandemic. The company proposes to utilise the net proceeds from the fresh issue to meet long-term working capital requirement and general corporate purposes. The book running lead managers to the issue are ICICI Securities and Nomura Financial Advisory and Securities (India).
Happiest Minds Technologies provides IT services. The Company offers big data analytics, cloud computing, networking, engineering, digital solutions, infrastructure, and other related activities. Happiest Minds Technologies serves customers worldwide.
