Ashok Soota is the Executive Chairman of Happiest Minds Technologies Limited. He is one of the pioneering leaders in the field of IT industry with 30 years of experience. He has debuted on the 2020 edition of the IIFL Wealth Hurun India Rich list with 282th rank with a wealth of ₹3,700 Crore. He headed three IT outsourcing company and Happiest Minds is his latest start up.
Ashok Soota- Biography
|Born||12 November, 1942|
|Education||Asian Institute of Management and IIT Roorke|
|Position||Chairman and Co-founder, Happiest Minds Technologies Limited|
Ashok Soota- Personal Life
Ashok Soota was born in, what is presently known as, the North West Frontier of Pakistan (NWFP). He was the fourth child among six. The family lived in Murre. His father was employed as a doctor in the British Indian Army. After the partition, the family lived shortly in Delhi and later in Lucknow.
He completed his formal education from India and higher studies from abroad. He is an entrepreneur, who played a vital role in establishing IT externalizing company. He has proved that age limits no boundaries. At 77, he is regarded as one of the most influential entrepreneur. All the lifetime achievement awards did not let him rest as he is determined to work for the growth and betterment of IT industry.
Ashok Soota- Education
He completed his Senior Cambridge at Delhi in 1958. He pursued intermediate science from La Martinere, Lucknow. His higher secondary education was completed by 1960. He opted for bachelor's degree in Electrical Engineering from the University of Roorke (at present- Institute of Technology Roorke). He obtained his graduation degree in 1964. He later pursued Masters in Business management from the Asian Institute of Management, Manila, Phillipines in 1973. He is the co-author of "Entrepreneurship Simplified. "
Ashok Soota- Professional Life
In 1965, he started his career with the Shriram Group of Industries in India. He served as the president of Wipro Infotech for around 15 years term starting from 1984 to 1999. During his term of office, Wipro's IT business grew from $2 million in 1984 to a $500 million run-rate in 1999.
In 1999, he co-founded an Indian multinational IT outsourcing company called Mindtree, headquartered in Bangalore, India and New Jersey. The company employs approximately 20,212 employees with the current revenue of $1 billion. The offices run from America, Europe and Asia.
Ashok Soota- Happiest Minds Technologies
In 2011, he co-founded an IT externalizing company named Happiest Minds Technologies Limited, headquartered in Bangalore, India. A company known for digital transformation, infrastructure, security and product engineering services. It also has its global presence in the United States, United Kingdoms, Canada, Singapore and Australia.
The business units of the company is aided by three Centres of Excellence which are Internet of Things, Analytics / Artificial Intelligence, and Digital Process Automation. The company deliver its services across industry sectors such as Edutech, Hi-tech, Retail, Industrial, Manufacturing, Banking, Financial services and Insurance, Engineering Research and Development, Travel, Media and Entertainment.
The shares of Happiest minds were sold at a price range of 165-166 rupees ($2.3) apiece. Ashok sold a part of his stake and raised 1.4 billion rupees. Moreover, the company gets 97% of its revenue from digital services in comparison with 30-50% of its local peers.
Ashok Soota- IPO
During the COVID-19 pandemic, Ashok thought of stuffing the Initial Public Offer (IPO) and almost 76% of his revenue was not affected by the lockdown. The IPO of his latest startup, Happiest Minds Technologies Ltd. was oversubscribed 151 times, and it became India's most successful first-time share sales of this decade. It has raised ₹700 crore. The company is expected to expand at an annualised rate of 20%, almost twice of the industry growth rate. While the IPO of Mindtree Ltd. was oversubscribed more than 100 times. He took Mindtree public in 2007. The oversubscription indicates the premium at which maximal Indian market is priced at.
Ashok Soota- Philanthropist
- He is the founding chief patron of the Samarthanam Trust for the disabled. This organisation works for the betterment of disabled people to excel in every field of life.
- He is the founding trustee of Ashirvadam. A NGO that lays emphasis on the environment and works to uplift the underprivileged. It supports the needy in terms of education, vocational training and medical support.
Ashok Soota- Awards
- In 1992, he received an award for the Electronics Man of the year by the Electronic Component Industries Association (ELCINA).
- In 1994, he received the IT Man of the Year by Dataquest.
- In 1997, he received the IT Man of the Year by Computer World magazine.
- In 2002, he was recognized as the person who brought IT industry to a place where people could feel its presence in their daily life. Therefore, the e-information Systems, Security, and AuditAssociation proudly accorded him with the highest award of the HONORARY FELLOWSHIP of the society .
- He was conferred with the Prof S N Mitra Award from the Indian National Academy of Engineering and the Golden Peacock Award for Technology Leadership.
- He got the "Most Innovative People Award" presented on the world's top 10 personage at the 2008 World Summit and Innovation and Entrepreneurship (WSIE). He was recognized among the field of Knowledge innovation.
- In 2015, he received the Agile Lifetime Achievement Unicom.
- In 2016, he received the Lifetime Achievement Award at the Express IT Awards.
- In 2018, he was conferred with the CyberMedia ICT Business Award.
- In 2018, he received the Chiratae Lifetime Achievement.
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