Happiest Minds Technologies Ltd. has announced public offering of 15040729 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 164.00 per share. The gross proceeds of the issue are expected to be Rs 24,967.61 lakhs.

The company's initial public offer (IPO) will open on 07 September 2020 and is expected to close on 09 September 2020, subject to customary closing conditions. The price band of the issue has been fixed at Rs 165.00-166.00 per share.

The IPO includes a fresh Issue of 15040729 Equity Shares of the Company at an price of Rs 166.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 90 shares with bids in multiples of 90.

Happiest Minds Technologies Ltd. anticipates using the proceeds of the issue for To meet long term working capital requirement; and General corporate purposes (collectively, referred to herein as the “Objects).

Nomura Financial Advisory & Securities (I) P Ltd.,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.