Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020
- According to the 2020
Hurun rich list, Ashok Sootawas among the top 10 new entrants with a net worth of ₹3,700 crore.
- The Soota backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding
- Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India.
According to the 2020 Hurun Rich List, Ashok Soota was among the top 10 new entrants to the list with a net worth of ₹ 3,700 crore. Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India.
Happiest Minds IPO: The 8th most successful IPO in the decade
The Soota-backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding, making it the 8th most successful IPO in the decade.
The Happiest Minds IPO received bids for 3.51 billion shares against the offer size of the 23.3 million. It was also the most subscribed IPO this year, followed by Route Mobile, which was subscribed 73 times.
It was already on the cards!
Well, Soota isn’t a newbie in the tech industry. The 77-year-old promoter brings with him more than 30 years of experience on the table. Before starting Happiest Minds 13 years ago, Soota was the founding Chairman and Managing Director of MindTree. Mindtree had completed its IPO in 2007 during his tenure and was subscribed 103 times by the investors.
Soota also worked at Wipro for 14 years, rising to the post of the vice-chairman before he left Wipro to join Shriram Refrigeration Industries as senior vice president.
SEE ALSO: From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India
These are the top ten billionaires in India, according to Hurun Rich List 2020
- GST exemption on domestic supplies, commercial imports of COVID drugs to make them costlier, says Finance Minister Nirmala Sitharaman
- Uttar Pradesh government extends statewide lockdown till May 17
- Marriage functions to be held at home or court with maximum gathering of 20 people, says Delhi DDMA
- PM Modi speaks to Chief Minsters of Punjab, Karnataka, Bihar and Uttarakhand regarding COVID-19 situation in their respective states
- If you are feeling anxious and overwhelmed by the pandemic and the news around it, here are a few ways to calm yourself down