Ashok Soota

Happiest Minds block deal news: Reports suggest Happiest Minds' Promoter and Executive Chairman, Ashok Soota, was looking to sell 6 per cent stake in the company through a block deal

A combined 11.57 million equity shares of the company had changed hands on the NSE and BSE at the time of writing this report

Proceeds will be used to fund an Institute Chair Professorship and three fellowships; institute is also setting up a wet lab

IT veteran Ashok Soota has set up SKAN, a not-for-profit entity that will conduct medical research, and has committed Rs 200 crore towards the effort. The research for the projects will be done through reputed partners, a statement said on Sunday. The strategic partner for neurological research is the Centre for Brain Research (CBR) at Indian Institute Science-Bangalore (IISc), it added. CBR is putting together a consortium to handle the first project on Parkinson's disease. The strategic partner for ageing is the upcoming St. John's Geriatric Centre (SJGC), to be located on the St John's Hospital campus. "Soota has agreed to fund the setting up of the Centre for Research in Ageing and Geriatrics (CRAG) at the SJGC and to support joint projects," according to the statement. Of this, Rs 100 crore is earmarked for partners such as St John's, Centre for Brain Research (CBR), IIT-Roorkee, NIMHANS and any new partners which may be added. The remaining amount is earmarked for investmen

Brokerage Nomura initiate coverage on Happiest Minds Technologies with a 'Buy' rating and target price of Rs 480 per share

RIL chief Mukesh Ambani tops the list ninth year on the trot, his wealth surges 73% to Rs 6.58 trillion

Business Standard brings you the top headlines of the day

This was the best day-one performance for an IPO since IRCTC in October last year, when the shares of the state-owned company gained 127 per cent

Wealthy investors to make up if Happiest Minds lists at 50% premium; 30% for Route Mobile

Happiest Minds, which gets almost all of its revenue from digital services, is one of two IPOs this week to woo Indian investors

Happiest Minds expects revenue to touch $100 mn in 3 yrs, the fastest in India's tech services sector