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Subscribe to Happiest Minds Technologies: Mehta Equities

Mehta Equities's Happiest Minds Technologies Ltd (Happiest Minds) is a decade old digital services company based out of Bengaluru.

September 07, 2020 / 02:39 PM IST

Mehta Equities IPO report on Happiest Minds Technologies


Happiest Minds Technologies Ltd (Happiest Minds) is a decade old digital services company based out of Bengaluru. It is an IT servicing company which applies agile methodologies and focuses on delivering seamless customer experience, business efficiency and actionable insights. It’s business is divided into three categories namely Digital Business Service (DBS), Product Engineering Service (PES) and Infrastructure and Management Security Service ( IMSS). These services are delivered across industry sectors such as retail, edutech, industrial, BFSI, hi-tech, engineering R&D, manufacturing, travel, media and entertainment, and others. In Fiscal 2020, 96.9% of the company's revenues came from digital services which is one of the highest among Indian IT companies. As of June 30, 2020, Happiest Minds had 148 active customers and has a global presence in countries like US, UK, Australia, Canada and the Middle East.


Valuation and Outlook


On valuations parse at upper price band (Rs 166/-), the issue is asking for market cap Rs 2438 Cr with PE (FY20) 26 times, which seems to be fairly and reasonably prices with something on the table for listing gains. Hence we advise Investors to “SUBSCRIBE” to this offer.


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