Happiest Minds Technologies Limited’s Initial Public Offering

Khaitan & Co and Herbert Smith Freehills advised Happiest Minds Technologies Private Limited on the deal.

Happiest Minds Technologies Limited executed an initial public offering of 42,290,091 equity shares of face value INR 2 each (Equity Shares) of the Company for cash at a price of INR 166 per Equity Share, aggregating to INR 7,020.2 million, comprising of a Fresh Issue of 6,626,506 Equity Shares aggregating to INR 1,100.0 million by the Company, and an Offer for Sale of 8,414,223 Equity Shares by Ashok Soota (the Promoter Selling Shareholder) and 27,249,362 Equity Shares by CMDB II (the Investor Selling Shareholder) aggregating to INR 5,920.2 million.

Happiest Minds Technologies Limited provides information technology services and offers bigdata analytics, cloud computing, networking, engineering, digital solutions, infrastructure, and other managed support services.

The Khaitan & Co team was led by Partner Rajiv Khaitan (Picture), Thomas George (Partner), Suman Prabhu (Senior Associate) and Prathiksha Panduranga (Associate).

HSF team included Siddhartha Sivaramakrishnan, Mark Robinson and Roddy Martin.

Involved fees earner: Roddy Martin – Herbert Smith Freehills; Mark Robinson – Herbert Smith Freehills; Siddhartha Sivaramakrishnan – Herbert Smith Freehills; Thomas George – Khaitan & Co.; Rajiv Khaitan – Khaitan & Co.; Prathiksha Panduranga – Khaitan & Co.; Suman Prabhu – Khaitan & Co.;

Law Firms: Herbert Smith Freehills; Khaitan & Co.;

Clients: Happiest Minds Technologies Limited;

Author: Michael Patrini