IPO of Happiest Minds Technologies Limited is now open for subscription. Minimum order quantity is 90 shares which is available at a price band of Rs.165 – Rs.166 per share.
Happiest Minds Technologies (HMT)
HMT focuses on delivering a seamless digital experience to its customers. The company’s offerings include, among others, digital business, product engineering, infrastructure management and security services. The company’s capabilities include giving end-to-end solution in the digital space. HMT has repeat business from its customer base, which includes more than 35 Fortune 2000/Forbes 200/billion dollar corporations.
The company’s broad range of offerings helps to up-sell while multiple business units (BUs) help it to cross-sell to existing customers as well as to acquire new customers. Its average revenue per customer has increased from US$471,472 in FY18 to US$501,562 in FY19 to US$614,675 in FY20. The company’s total income & EBITDA has grown at a CAGR of 20.8% and 285.3%, respectively between FY18 and FY20.
Strong brand in digital IT services
The global enterprise digital spend is expected to be ~US$691 billion in 2019 and is expected to grow to US$2,083 billion by 2025 at a CAGR of 20.19%. In FY20, 96.9% of revenues came from digital services. This is one of the highest among Indian IT companies. Broadly, the company’s target market includes business services, IT services, infrastructure-as-a-service, applications, application development and deployment.