(Priyanka Gupta, Intern Journalist): Shares of Ashok Suta’s company Happiest Minds got a great listing on the domestic stock market on Thursday. The shares of the company were listed at a price of Rs 351, which is a premium of 111 percent compared to the issue price of Rs 166.
This boom has filled the pockets of some employees of the company. The five core employees of the company hold a 2.01 percent stake i.e. 29.25 lakh shares of the company, which is valued at Rs 102.68 crore in the market based on the listing price.
Company Vice Chairman and PES CEO Joseph Anantraju hold 11.90 lakh shares, whose wealth has increased by 42 crores. The wealth of the company’s executive director and CFO Venkataraman Narayanan also increased to Rs 30 crore.
Anantraju joined hands with the company on 8 August 2011. Anantraju was also associated with Mindtree before Happiest Minds. His total salary in the financial year 2019-20 was Rs 2.33 crore.
Narayanan has been associated with the company since 23 April 2015. Prior to Happiest Minds, he was associated with Sonata Software, TeamLease Services, SAP India, Oracle India, Arthur Andersen, Petrot Systems (TSI) India, Transformation Information Services, and Mindtree Consulting.
Chaluvaiah Rammohan (IMSS President and CEO) got Rs 17.92 crore, Rajiv Shah (DBS President and CEO) got Rs 11.50 crore and Praveen Kumar Darashankar (Company Secretary and Compliance Officer) got Rs 1.93 crore.
According to the company’s petition draft, “none of the directors or chief management officers held equity shares of the company other than Ashok Suta, Venkataraman Narayanan, Praveen Kumar Darashankar, Chaluvaiah Rammohan, Rajeev Shah and Joseph Anantraju till the DRHP was filed.”
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