FY 20
Assets508.15
Net Worth265.31
Total Debt69.16
RevenueAnnualised basis698.21
EBITDAAnnualised basis101.82
PATAnnualised basis71.70
EBITDA Margin (%)14.58
At a glance
Updated 2026-09-19The shares listed at ₹350.00, a 110.84% move from the issue price. Happiest Minds is a Mainboard IPO with an issue size of ₹702.02 crore, proposed for listing on BSE, NSE. The offer opens on 7th Sep 2020 and closes on 9th Sep 2020. The issue structure includes a fresh issue of ₹110.00 crore and an offer-for-sale component of ₹592.02 crore. The current listing schedule points to 17th Sep 2020.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹702.02 Cr
Fresh issue₹110.00 Cr
Offer for sale₹592.02 Cr
Face value₹2
Price band₹165.00–₹166.00
Allotment14th Sep 2020
Listing17th Sep 2020
Listing performance
Full performance ↗Issue price₹166.00
Listing price₹350.00
Current price—
Listing gain110.84%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹0.00
GMP / upper price0.00%
Est. listingNO DATA
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens7th Sep 2020
Closes9th Sep 2020
Allotment14th Sep 2020
Refund15th Sep 2020
Demat15th Sep 2020
Listing17th Sep 2020
Subscription demand
Full bidding ↗Total150.98×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 90 | ₹14,940 |
Company
Incorporated2011
Use of proceeds
| Object | Amount |
|---|---|
| To meet long term working capital requirements | ₹101.00 Cr |
| General corporate purposes | ₹3.03 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Assets573.08₹ Cr · +48.1% vs prior year
Net Worth319.01₹ Cr · +393.0% vs prior year
FY 19
Assets413.52
Net Worth-66.05
Total Debt60.12
RevenueAnnualised basis590.36
EBITDAAnnualised basis53.50
PATAnnualised basis14.20
EBITDA Margin (%)9.06
FY 18
Assets386.99
Net Worth-108.88
Total Debt68.55
RevenueAnnualised basis462.89
EBITDAAnnualised basis7.52
PATAnnualised basis-22.40
EBITDA Margin (%)1.62
30-Jun-20
Assets573.08
Net Worth319.01
Total Debt90.89
RevenueAnnualised basis177.02
EBITDAAnnualised basis47.70
PATAnnualised basis50.10
KPIs
| KPI | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMsand commissions(including underwriting commission, brokerage and selling commission) | 19.35 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids rocured by the Members of the Syndicate, the Registered Brokers, CRTAs or CDPsand submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIBs,selling commission and uploadingcharges payable toMembers of the Syndicate (including their Sub-Syndicate Members), RTAs,CDPsand Register | 3.62 |
| 3 | Processing fees payable to the Sponsor Bank | 1.48 |
| 4 | Fees payable to Registrar to the Offer | 0.83 |
| 5 | Printing and stationery expenses | 1.03 |
| 6 | Advertising and marketing expenses | 1.22 |
| 7 | Listing fees, SEBIfees, BSE and NSE processing fees, Book-building software fees, Other regulatory expenses, Fees payable tolegal counsel; and Miscellaneous | 10.55 |
Valuation & shareholding
Post-IPO P/E.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Happiest Minds Technologies IPO | — | 12.00 x | — | — |
| Esds Software IPO | — | 41.61 x | — | — |
| Amagi Media IPO | — | 603.54 x | — | — |
| Excelsoft Technologies IPO | — | 57.46 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Fees payable to the BRLMsand commissions(including underwriting commission, brokerage and selling commission) | ₹19.35 Cr |
| Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids rocured by the Members of the Syndicate, the Registered Brokers, CRTAs or CDPsand submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIBs,selling commission and uploadingcharges payable toMembers of the Syndicate (including their Sub-Syndicate Members), RTAs,CDPsand Register | ₹3.62 Cr |
| Processing fees payable to the Sponsor Bank | ₹1.48 Cr |
| Fees payable to Registrar to the Offer | ₹0.83 Cr |
| Printing and stationery expenses | ₹1.03 Cr |
| Advertising and marketing expenses | ₹1.22 Cr |
| Listing fees, SEBIfees, BSE and NSE processing fees, Book-building software fees, Other regulatory expenses, Fees payable tolegal counsel; and Miscellaneous | ₹10.55 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- ICICI Securities Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-19.
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