Happiest Minds Technologies Ltd. raises Rs 315.90 crore equity capital, ahead of its IPO next week.
Happiest Minds is a IT company headquartered in Bangalore, India with operations in the U.S., UK, Canada, Australia and Middle East. Its main focus is on Blockchain, Data Analytics and Artificial intelligence (AI).
Company issued shares to anchor investors at Rs 166 per share. 25 investors including Pacific Horizon Investment Trust, Integrated Core Strategies Asia Pte, Goldman Sachs India Fund, Franklin Templeton MF, Kuwait Investment Fund, Fidelity Asian Values Plc invested Rs 315.90 crore in the IT company.
The company said in its BSE filing. “The fund raising committee and selling shareholders in consultation with book running lead managers have finalised allocation of 1,90,30,541 equity shares to anchor investors,”.
The Rs 702 crore initial public offering (IPO) will open on September 7 and conclude on September 9. The IPO consists of a fresh issue of Rs 110 crore and the rest through an offer for sale (OFS) up to 3,56,63,585 equity shares by promoter Ashok Soota and investor CMDB II, private equity fund managed by JP Morgan Investment Management Inc.
