Industry veteran Ashok Soota founded Happiest Minds Technologies, a software services provider plans to list in the Indian stock markets in the next few years and has targetted $100 million in revenues. The listing is expected to be in the next few years.

The company said that for the first full financial year 2012-13 since the company has started operations, it closed revenues at an annualised run rate of $20 million. Annualised run rate is a metric by which a company's performance is assessed currently based on its performance over a certain period and is not a substitute of a company's revenues.

This, the company said, is due to its focus on new technologies like business analytics, social media and ‘Big Data’, which is industry parlance for large amounts of data crunching that banks, retailers and other sectors undertake. The company has bagged 45 such customers in markets like US, UK, South East Asia and India.

Further, Happiest Minds has plans to achieve $100 million in revenues without specifying any timeframe. With this in mind, company officials say that it plans a listing in the next couple of years. Talking about the company prospects going forward, Ashok Soota, Executive Chairman, Happiest Minds, said, “Our current annualised run rate has set a new benchmark for the IT services industry in its first full financial year.”

Related Topics