Happiest mind is a small sized IT services company promoted by Mr. Ashok
Soota who was one of the founding members of Mindtree Ltd. Happiest Mind
is uniquely positioned as derived 96.6% of its revenues in FY2020 from
digital services that are expected to be the fastest growing segment in the IT
sector. The company has been positioned as “Born Digital. Born Agile” and
focuses on delivering a seamless digital experience to its customers. The
company’s offerings include digital business, product engineering,
infrastructure management and security services among others. We believe
that strong presence across digital technologies will help the company to
grow at a faster rate as compared to the Industry.
Outlook & Valuation: At upper price band, it is offered at 23.6x FY2020 EPS,
demanding market cap of `2,438cr, which is at a slight premium to few of the
smaller sized IT companies. Considering the very high exposure to digital services
and strong promoter background, we expect that the company will continue to
grow at a faster pace as compared to similar sized companies and therefore
should command a premium valuation to peer group. We would therefore
recommend investors to SUBSCRIBE to the IPO
