The Rs 702-crore IPO received bids for 2,93,41,84,140 shares against the total issue size of 2,32,59,550 shares, according to data available till 3.30 pm on Wednesday.
'People are taking effort to train and adapt to current skills.' 'If that is not there, they are not useful to us.' 'They have to adapt to new technology, and what is important is learnability.'
Raja Shanmugham, chief people officer, Happiest Minds Technologies, discusses the company's HR policies, six qualities that one needs to have to fit the bill at the company, how they measure their company's happiness quotient, his challenges and why the company will not be impacted by another storm brewing in the US economy.
Ashok Soota, founder chairman of MindTree, who recently left the company he co-founded in 1999, is preparing the grounds for his new venture.
Ashok Soota, one of the co-founders of MindTree and a veteran of the IT industry knows what it takes to try and reach $100 million in five years -- his ambitious goal for his new company titled 'Happiest Minds.'
Happiest Minds expects revenue to touch $100 mn in 3 years, the fastest in India's tech services sector.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Several technology companies are seeking to step up hiring from Tier-II and Tier-III cities of India in 2024 to tap into a vast talent pool of skilled professionals churned out by educational institutions and training centres in these regions. Tier-II and Tier-III cities such as Thiruvananthapuram, Kochi, Coimbatore, Jaipur, Mohali, Vadodara, Chandigarh, and Indore contribute around 12-15 per cent of the country's tech talent, hinting towards the strong talent availability in these regions, according to Randstad India, a talent management firm.
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
In her lawsuit, American national Tami Sulzberg alleges that at least 90 per cent of the US workforce of San Jose-based Happiest Minds, whose headquarters is in Bangalore, are South Asians, primarily from India.
Happiest Minds, expected to be formally launched for customer delivery in five months, would have six lines of businesses, namely IT services, R&D services, product engineering services, remote infrastructure management, testing and consulting.
Start-ups Zomato, PB Fintech, One97 Communications, and FSN E-Commerce Ventures have entered the large-cap category after the latest reclassification exercise by the Association of Mutual funds in India (Amfi). This comes despite stocks such as PB Fintech (Policybazaar) and One 97 Communication (Paytm) trading below their issue price. Others such as Mindtree, SRF, IRCTC, Tata Power, JSW Energy have been moved from mid-cap to large-cap category.
Investors seem to have fully savoured the Burger King India IPO, with the share sale getting subscribed a massive 156.65 times on the last day of the offer on Friday.
Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
Shares of all the 14 companies are currently trading above their issue price.
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The retail frenzy over initial public offers (IPOs) seen over the past few months is not without reason. Over the past two years, 61 companies have tapped the primary market and raised funds via IPOs. Of these, 24 companies (nearly 39 per cent companies) have more than doubled at the bourses with Happiest Minds, IndiaMart Intermesh, Indian Railway Catering and Tourism Corporation (IRCTC), Affle India and Route Mobile surging 468 per cent to 722 per cent since their listing date till now. Retail participation in the equity market, according to analysts, has just reached an inflection point due to the low interest rate regime amid lack of investment-worthy avenues that can generate a good return for investors.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
The listing day gain-to-loss ratio for FY21 was 71 per cent, the highest since FY17, when it was 85 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The 12-member team includes seven senior executives of MindTree, including Soota himself, three from Wipro and one from Infosys.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Shares of small-cap companies have been on a roll with the S&P BSE Small-Cap index hitting a new high in intra-day deals on Thursday. The rally has been fueled by an up move in stocks of chemicals, cement, graphite electrode makers, pharmaceuticals and information technology (IT) shares. In the past two weeks, since March 25, the index has outperformed the market by gaining 7.3 per cent. In comparison, the S&P BSE Midcap index was up 6.1 per cent, while the S&P BSE Sensex gained 3.6 per cent during the same period.
Despite lay-offs and the threat of automation, the industry will continue to be an important driver of growth in employment and GDP, says Ashok Soota.
Learn from your successes more than your failures remarked Ashok Soota at an event held in Bangalore.
Ashok Soota has launched a new firm, Happiest Minds, at the age of sixty-nine, proving that there is no such thing as retirement.
Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
While the leadership change in Mindtree is yet to happen, there's a buzz that the co-founders of the IT firm may float another company.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The average 3-year revenue growth of 50 fastest-growing tech firms slips to 365% in 2015.
Ashok Soota of Happiest Minds shares the secret recipe with us.
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