Company Overview:
Happiest Minds Technologies is a digital transformation, infrastructure, security and product engineering services company. It has capabilities to provide end-to-end solutions in digital space
It supports the customers in innovating new ways to interact with their clients which makes them more clients responsive and engaging. Company is headquartered in Bangalore, India and has its operations in the US, UK, Canada, Singapore and Australia.
Objects of the Issue:
The object of the issue is to harness the benefits of listing the equity shares on the
exchanges.
The net proceeds from the issue will be utilised for:
a) Meet long term working capital requirement (INR 1bn)
b) General corporate purposes
Outlook and Valuation:
Happiest Minds Technologies repeat business (revenue from current customers) has steadily grown and contributed a significant portion of its revenue from contracts with customers over the fiscal which highlights a high degree of customer stickiness.
Company is valued at P/E of 34.5x based on diluted EPS of FY20 as compared to industry average of 26.9x.
Competitive Strengths
1. Focused on software product development
2. Strong Brand in offering Digital IT services
3. Agile Engineering and Delivery
4. Company Revenue grew at 23% of CAGR over FY 19 – 20
5. Customer has 148 Active Clients and company has high degree of customer stickiness.
6. Company EBITA grew by 77%
Based on positive sentiments around the IT industry and new technologies, I believe this would be a good opportunity for investors who look for listing gains and long term appreciation.
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Sathish Kumar
Equity Fund Manager | Wealth Consultant | Author
Whats app / Call – 9841058689
Disclaimer
This blog is for information purpose only. There are no guarantee about the performance of the stock, pls do your due diligence and research before you do a buy. IPO Investment are subject to market risk and company risk.
Sathish is a Crorepathi Creator | Author | AMFI Registered Mutual Fund Distributor | Columnist | Youtuber
I have 22 years of experience in Financial Services, in which 15 Years of Experience in being associated with major banks and 7+Years of experience personally as founder of Creating Wealth Company
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