Who is Ashok Soota, the 77-yr-old whose startup’s IPO was oversubscribed 151 times?

Team Udayavani, Sep 15, 2020, 1:16 PM IST

Ashok Soota is the 77-year-old entrepreneur whose Bengaluru-based startup Happiest Minds Technologies’ IPO was oversubscribed 151 times

Soota has led three outsourcing companies including one of the nation’s largest, Wipro Ltd., and taken two of them public. As the pioneer of India’s information technology services industry his credibility has caused a boost in the IPO, head of research at IIFL Securities Ltd. in Mumbai

IT veteran Soota holds a bachelors’ degree in electrical engineering from Roorkee University (now IIT Roorkee) and a Masters’ degree from the Asian Institute of Management, Philippines.

Ashok Soota, Executive Chairman and Promoter, Happiest Minds since August 2011 is one of the pioneers of Indian IT industry and a serial entrepreneur. Prior to Happiest Minds, he was Founding Chairman & MD of MindTree

He left MindTree in 2011 and sold nearly all his remaining stake in the IT firm to the late VG Siddhartha’s Coffee Day Resorts.

According to NDTV, Happiest Minds expects to expand at an annualized rate of 20 per cent, almost double the industry growth rate. The company gets 97 per cent of its revenue from digital services, compared with 30-50 per cent for its local peers