What are some of the key highlights of the IPO of Happiest Minds?

The IPO of Happiest Minds opens on 07 September and this company has been promoted by Ashok Soota. He is a long term veteran of Wipro and was later the founder of Mindtree, which came out with its public issue in 2007.

Back in 2007, Mindtree had been oversubscribed by 103 times and it remains to be seen what happens to this IPO. Here are some of the highlights of the IPO.

· Unlike Mindtree, which was more into the traditional software business, Happiest Minds is more into the SMAC space, which includes the four digital sub segments of social media, mobile, analytics and cloud technologies.

· Subsequently, Happiest Minds has also gotten into emerging technologies like Internet of Things or IOT, Blockchain, virtual and augmented reality i.e. AR / VR, robotics and drones. The focus has shifted largely to the advanced digital space.

· During the COVID crisis, nearly 76% of their business segments were not impacted by the COVID. Happiest Minds derives nearly 42% of revenue from edtech and high-tech sectors, which have benefited substantially from the lockdown.

· North America remains their largest and most familiar market accounting for 78% of revenues followed by India at 11%. It has also commenced operations in Australia and the Middle East but North America will continue to be their principal market.

In short it could be a good play on emerging technologies promoted by a man with redoubtable credentials.