GIC is an Anchor Investor in Happiest Minds Technologies
Posted on 09/05/2020
Bengaluru-based Happiest Minds Technologies Ltd is a software services company. Happiest Minds Technologies raised Rs 315.9 crore (US$ 43.13 million) from anchor investors that includes Singapore GIC Private Limited. Some other investors include IIFL Asset Management Ltd, funds managed by Avendus Capital, Integrated Core Strategies Asia Pte Ltd., Goldman Sachs India, Fidelity Asian Values Plc, and Sumeet Nagar-led Malabar Investments. GIC purchased shares worth Rs 18 crore. The Avendus Absolute Return Fund and Malabar each subscribed to shares worth Rs 7.6 crore. Kuwait Investment Authority (KIA) purchased Happiest Minds shares worth Rs 16 crore.
ICICI Securities and Nomura Financial Advisory and Securities (India) Pvt. Ltd are the bankers arranging the share sale.