Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Dallas Zoo mystery deepens as two missing monkeys found in closet at abandoned home

    February 1, 2023

    Controversial internet personality Andrew Tate to appear in court in Romania

    February 1, 2023

    UK 'chronically' underspending to adapt to risks of climate change and 'needs £10bn-a-year investment'

    February 1, 2023
    Facebook Twitter LinkedIn
    Trending
    • Dallas Zoo mystery deepens as two missing monkeys found in closet at abandoned home
    • Controversial internet personality Andrew Tate to appear in court in Romania
    • UK 'chronically' underspending to adapt to risks of climate change and 'needs £10bn-a-year investment'
    • 'Beyond devastated': Family pays tribute to 'handsome' boy, 14, killed during first rodeo bull ride
    • The skinny on Gunstock
    • Ski Wednesday: Time to take new stock of Gunstock Mountain
    • Eastern Massachusetts high school roundup, scoreboard
    • Boston College springs trap on No. 20 Clemson in a 62-54 win
    Facebook Twitter LinkedIn
    Business KhabarBusiness Khabar
    • World
    • Auto
    • Business
      • Industries
      • Opinion
    • Market
    • Money
      • Finance
      • Insurance
      • Investment
      • Schemes
    • Sports
    • Other
      • Stories
      • Career
      • Entrepreneurship
      • Property
    • Web Stories
    Business KhabarBusiness Khabar
    Home » Happiest Minds IPO: Ashok Suta again shines in the stock market after 13 years
    Money

    Happiest Minds IPO: Ashok Suta again shines in the stock market after 13 years

    Nisha ChawlaBy Nisha ChawlaSeptember 14, 2020Updated:September 14, 2020No Comments
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Happiest Minds Founder Ashok Soota

    The IPO of Happiest Minds has received a great response from retail investors. This Rs 700 crore IPO was subscribed 151 times. The founder of this company is Ashok Suta of 77 years. Ashok Suta has not done this amazing for the first time. He did the same thing 13 years ago when Mindtree came out with an IPO. In 2007, the IPO of his company Mindtree received 103 times more bids. He later formed his new company Happiest Mind. After all, who is Ashok Suta, in whose name investors are so confident?

    Who is Ashok Suta

    Ashok Suta is a well-known name in the information technology services industry of India. Suta has done engineering from IIT-Roorkee. He has played the role of head of three big outsourcing companies. One of them is the giant Wipro Limited and the remaining two are public companies. Now their startup company Happiest Minds has received such a good response that this IPO has been included in India’s most successful IPO. Now bid for 351 crore shares in the 700 million rupees IPO of Happiest Minds. While only 2.33 crore shares were offered.

    Mindtree’s IPO was also a super hit

    Mindtree was founded in 1999 along with 10 others. Ashok Suta came to the market 13 years ago i.e. in 2007 with Mindtree’s IPO. In 2007, the IPO of his company Mindtree received 103 times more bids. But after differences arose among the founders of the company, Suta separated herself from Mindtree. In 2011, Suta founded Happiest Minds. Happiest Minds was launched in April 2011 by Ashok Suta. Happiest Minds is headquartered in Bengaluru.

    Focus on digital business

    According to Happiest Mind, 97 percent of its revenue comes from digital businesses, which is much higher than many companies like Infosys, Mindtree and Cognizant. The average digital revenue by these companies is 40-50 percent. It offers Digital Business Services, Product Engineering Services and Infrastructure Management and Security Services. Covid-19 and lockdown have had no impact on 76% of their revenue as more than half of this revenue comes from education technology and high-tech sectors.

    How is Happiest Minds business

    Happiest Minds has grown at an annual rate of 21 per cent in the last three years, while the average growth of the IT industry is around per cent. The company’s sales were Rs 714 crore in FY 2020, which was Rs 601 crore in FY 2019. The company had a profit of Rs 71 crore in FY 2020, which was Rs 14.2 crore in FY 2019.

    Source: www.financialexpress.com

    #Happiest #Minds #IPO #Ashok #Suta #shines #stock #market #years

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Nisha Chawla
    • Website
    • Facebook
    • LinkedIn

    She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.

    Related Posts

    How Russia dodges oil sanctions on an industrial scale

    January 30, 2023

    Intel stock tumbles after brutal results

    January 27, 2023

    Egypt's oldest mummy discovered 'covered in gold'

    January 27, 2023
    Top Post

    Mortgage approvals at lowest level since early months of pandemic

    January 31, 2023

    Paperchase goes into administration with all jobs likely to be lost as Tesco buys brand

    January 31, 2023

    Business failures hit highest level since 2009 after end of pandemic support

    January 31, 2023

    Founders of education provider Twinkl study £500m Vitruvian deal

    January 31, 2023
    Don't Miss
    Sports

    ‘A pure winner’: From Maryland lacrosse to D-II soccer and now the NFL, Jared Bernhardt is set to maintain proving himself

    By Business KhabarMay 25, 2022

    All Jared Bernhardt wants is an opportunity. It doesn’t matter how massive or small the…

    News

    NIA court’s decision in Patna Gandhi Maidan serial blast case will come today, there were blasts in PM Modi’s rally

    By ShehnazOctober 27, 2021

    The Special Court of the National Investigation Agency (NIA) will pronounce the verdict on Wednesday…

    Investment

    PMAY: Up to 2.67 lakh discount will be given till 31st March on buying a house, if eligible, apply this way

    By Nisha ChawlaMarch 23, 2021

    PM Awas Yojana: The Pradhan Mantri Awas Yojana is a scheme launched by the government…

    Opinion

    A Sensible Senate Gun Deal

    By Archana SharmaJune 23, 2022

    Senate Majority Leader Chuck Schumer speaks throughout a information convention on the U.S. Capitol on…

    About Us
    About Us

    Business Khabar: Read latest business news, auto news, technology news, personal finance, industries news, investment & insurance news, startups & success stories.

    We're accepting new partnerships right now.

    Email Us: [email protected]

    Facebook Twitter LinkedIn
    In Case You Missed

    More paid time off, flexibility can help small businesses attract good employees

    February 1, 2023

    Mortgage approvals at lowest level since early months of pandemic

    January 31, 2023

    Paperchase goes into administration with all jobs likely to be lost as Tesco buys brand

    January 31, 2023
    Last Minute Read

    How Russia dodges oil sanctions on an industrial scale

    January 30, 2023

    Here Are Some Higher-Yielding Alternatives to Savings Accounts

    January 27, 2023

    Leverage These Tax Breaks Before April 15

    January 27, 2023
    Facebook Twitter LinkedIn
    • About us
    • Contact
    • Contribute for us
    • Privacy Policy
    • Disclaimer
    © 2023 Business Khabar. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.