Bengaluru, September 3: Happiest Minds Technologies, Bengaluru-based IT services company said that it will launch its initial public offer (IPO) on September 7. The offer will close on September 9 and the price band fixed at Rs 65-166 per equity share.

The public issue consists of a fresh issue of Rs 110 crore and an offer for sale of up to 3.57 shares. Bids for the IPO can be made for a minimum of 90 equity shares and in multiples of 90 equity shares thereafter. The face value of the equity shares is Rs 2 each. IRCTC IPO Huge Hit Among Investors at Stock Market, Subscribed 112 Times on Final Day by Raising Rs 72,000 Crore.

According to a Hindu Business line report, Ashok Soota, the promoter, is looking to sell around 84.14 lakh shares. Also, investor CMDB II, which owns 19.4 percent in Happiest Minds, is looking to exit after the IPO.

This is the second company Soota is taking public. He was also the co-founder of Mindtree which went public in 2000. In 2011, Soota left Mindtree and co-founded Happiest Minds.

(The above story first appeared on LatestLY on Sep 03, 2020 09:49 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).