Information Technology firm Happiest Minds Technologies's initial public offer is opening today with a price band per equity share between Rs 165-166. Happiest Minds Technologies IPO will offer for sale up to 3.56 crore equity shares, aggregating up to Rs 110 crore, and aims to raise Rs 702 crore at the upper end of the IPO price band. 

Nomura Financial Advisory and Securities (India) and ICICI Securities are the managers for the offer proposed to be listed on BSE and NSE. Happiest Minds Technologies is a Bangluru based IT company that plans to use the proceeds from the issue for general corporate purposes and to meet long-term working capital requirement needs. 

The IPO application can be made in a lot size of 90 equity shares and in multiples of 90 scrips thereafter. 

The promoter of Happiest Minds Technologies is Ashok Soota set to sell 8,414,223 equity shares and private equity fund CMDB-II will offer 27,249,362 shares through the offer-for-sale route. 

According to the managing editor of Zee Business Anil Singhvi, "The promoter of this company is Ashok Soota, an industry stalwart who was also Co-founder, Chairman and Managing Director of IT company Mindtree."

Over 70 percent of the company revenues are generated from the United States. Happiest Mind Technologies has given strong results last year and has been improving over the last 2-3 years and the outlook is good.