Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
istock/Ildo Frazao Ildo Frazao
IT services firm Happiest Minds Technologies has received markets regulator Sebi’s approval to float initial share-sale.
The offer comprises a fresh issuance of shares aggregating up to ₹110 crore and an offer for sale of up to 3.56 crore equity shares, according to the draft red herring prospectus (DRHP).
The company, which filed draft papers with the markets watchdog in June, obtained its observations on August 21, latest update with the Securities and Exchange Board of India (Sebi) showed.
Sebi’s observations are necessary for any company to launch public issues like initial public offering, follow-on public offer and rights issue.
The company’s promoter Ashok Soota and CMDB-ll will offer shares through the offer-for-sale route.
Soota was also the founding chairman and managing director of MindTree Ltd. Prior to this, he was also the vice-chairman of Wipro Ltd.
The IT company proposes to utilise the net proceeds from the fresh issue to meet long-term working capital requirement and general corporate purposes.
The company will not receive any proceeds from the offer for sale. The selling shareholders will be entitled to their respective portion of the proceeds of the offer for sale.
ICICI Securities and Nomura Financial Advisory and Securities (India) are the manager for the offer.
The Bengaluru-based company’s shares are proposed to be listed on the BSE and the NSE.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
With initial public offerings galore, we give you a cheat sheet to score some good grades
Biggest risk in selling funds in a rising scenario is exiting early and missing out on further gains
Go for a standard vector-borne diseases policy if you don’t have a regular health plan
No credit risk is an attraction, but note the nuances
After facing severe droughts for several years, farmers in western Maharashtra have turned the corner through ...
A toast to a traditional drip irrigation system still going strong in the Northeast
Raza Mir’s ‘Murder at the Mushaira’ works well as a historical novel that captures the sunset years of the ...
If you see garbage lying on the streets, remove it, says a dedicated plogger on a clean-up drive
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor