Stock Market Today: Zee Business was flooded with queries from investors on its social media handles about the IPO (Initial Public Offering) of Happiest Minds Technologies. To make it easy for the investors to cut through the confusion, Zee Business Managing Editor Anil Singhvi brings a detailed analysis. See the money-making tips the Market Guru has provided! 

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Singhvi said that as a matter of practice he has been informing investors about company IPOs on the day of their opening. Taking it much further now, the Market Guru said he will tell viewers what he felt about the IPO of Happiest Minds which has opened today. The IPO ends on 9 September.

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 Singhvi said that the promoter of this company is Ashok Soota, an industry stalwart who was also a Co-founder, Chairman and Managing Director of IT company Mindtree. Over 70 per cent of the company revenues come from the US.  

On the issue of valuation, Singhvi said it is “reasonable”. The company is looking to raise Rs 702 cr from the IPO. It has given strong results last year and has been improving over the last 2-3 years. The outlook is also good, the Managing Editor said. 

On the things that the investors should watch out for is the leadership, which currently revolves around Soota. He is almost 77 years now. Singhvi said that he wished Soota a long and healthy life, but investors should look at the company from this aspect, as well.  

Since 70 per cent of the business comes from the US, there is a lot of dependence from one country, he said. Future cash flows are also on slight downhill, Singhvi said. 

He said that the positives outnumber the negatives and a strong player is entering the markets. The digital business has a lot of avenues.  

Soota has led a lot of big companies in the past and he may have put a strong team in place to lead the company. 

Keeping all these things in mind, the investors should buy the shares on a short term and long term basis.

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People who want to earn profits on listing can put their money in this stock. He said that the investors will likely get good listing gains from this stock.