This small-cap IT company which has listed a few years back raised Rs 45 crore; shares surged

The company is a next-generation IT solutions and services company.

Reset Rate Unsecured Rated Listed Redeemable Non-Convertible Debentures (NCDs) were issued by Happiest Minds Technologies in order to raise Rs 45 crore through private placement. The allotment of the same was among the items the Board of Directors of the Company considered and approved at its meeting on May 8, 2023. 

The scrip opened today at Rs 855.60 and touched a high and low of Rs 873 and Rs 844.95, respectively. Its 52-week high stood at Rs 1,136.45, whereas its 52-week low was Rs 763.50. The current market cap of the company is Rs 12,754.37 crore. Promoters hold 53.24%, whereas the Institutional and non-institutional holdings are 5.41 per cent and 41.34 per cent, respectively.   

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Happiest Minds Technologies focus on delivering a seamless digital experience to customers. In order to meet their immediate business needs and to give them strategically sound cutting-edge, and transformative digital solutions, it has developed a customer-centric focus. It has developed a customer-centric focus that aims to fulfil their immediate business requirements and to provide them with strategically viable, futuristic and transformative digital solutions. Additionally, it provides solutions for a wide range of digital technologies, including security Business Process Management (BPM), Cloud, Big Data and Advanced Analytics, Software Defined Networking/Network Function Virtualization (SDN/NFV), Robotic Process Automation (RPA), and Internet of Things (IoT).