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IPOs/FPOs

Why Happiest Minds IPO may not be a very happy proposition for investors

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Synopsis

Incorporated in 2011, the company provides platform engineering, digital transformation and infrastructure security solutions to global clients.

By , ET Bureau
3 mins read, Last Updated:
Mid-tier IT services provider Happiest Minds Technologies plans to raise Rs 110 crore of fresh equity and around Rs 592 crore through an offer for sale. CMDB II, a private equity fund raised by JP Morgan Management, will sell its entire 19.3% stake. The promoter group stake will fall to around 53% after the IPO from 61.8%. The company's financial performance over the past three years appears to be erratic. Given its smaller size, business

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