Latest news with #RII
Mint
02-07-2025
- Business
- Mint
Happy Square Outsourcing Services Limited IPO Opens On 03rd July 2025
Mumbai (Maharashtra) [India], July 2: Happy Square Outsourcing Services Limited, a technology driven human resource outsourcing firm headquartered in Jabalpur, Madhya Pradesh, has announced its IPO on July 03, 2025, aiming to raise ₹ 24.24 Crores, with shares to be listed on the NSE Emerge platform. The issue size is Up To 31,90,400 equity shares at a face value of ₹ 10 each. Fresh Issue Size – 31,90,400 Equity Shares of ₹ 10 each 10 each Issue Size – ₹ 24.24 Crores (At Upper Price Band) 24.24 Crores (At Upper Price Band) Price Band – ₹ 72 - ₹ 76 Per Equity Share 72 - 76 Per Equity Share Lot Size – 1,600 Equity Shares Equity Share Allocation QIB Anchor Portion – Up to 8,68,800 Equity Shares Qualified Institutional Buyers (QIB) – Up to 5,79,200 Equity Shares Non-Institutional Investors (NII) – Up to 4,36,800 Equity Shares Retail Individual Investors (RII) – Up to 10,17,600 Equity Shares Market Maker – Up to 2,88,000 Equity Shares The net proceeds from the issue will be utilized primarily for funding of working capital requirements of the company & general corporate purposes. The anchor portion will open on July 02, 2025. The issue will open for public on July 03, 2025 and the issue will close on July 07, 2025. The Book Running Lead Manager to the Issue is Corpwis Advisors Private Limited. The Registrar to the Issue is Purva Sharegistry India Private Limited. Ms. Poonam Rajpal, Managing Director of Happy Square Outsourcing Services Limited expressed, "We are very proud to announce that Happy Square Outsourcing Services Limited is taking its first step into the capital markets, driven by our vision to redefine HR solutions through innovation and expertise. We have consistently grown our business by blending technology with HR services. As a technology-driven HR outsourcing firm with extensive experience, a wide presence across the country, and a large client base, we take pride in offering end-to-end staffing solutions, catering to recruitment and workforce solutions across diverse industries such as IT, automobile, logistics, FMCG, and government services. To strengthen our service delivery, we have developed proprietary platforms that improve efficiency and enhance client outcomes. White Force Plus, our in-house recruitment solution, features a dynamic candidate database, AI-driven tools, and automated interview reporting for faster, smarter hiring. Alongside, our White Force Payroll HRMS Portal automates payroll, compliance, and attendance functions with real-time reporting and self-service options for employees. These secure and scalable platforms help streamline HR operations and drive overall productivity. The net proceeds of this IPO will be utilized for working capital needs, ensuring timely salary payouts for our workforce, while the remainder will support general corporate purposes, including product development and business expansion. This capital infusion will strengthen our operational capabilities and fuel our growth, helping us remain agile and competitive as we work toward becoming the partner of choice for high-quality, scalable HR solutions across India.' Mr. Nikunj Kanodia, Director of Corpwis Advisors Private Limited said, "The HR outsourcing sector in India is undergoing a major shift, with businesses increasingly seeking partners who combine technology with deep domain expertise. Happy Square Outsourcing Services Limited stands out as a forward-thinking player in this space, offering comprehensive HR solutions tailored to the evolving needs of modern enterprises. India's staffing and HR services industry continues to witness strong momentum, driven by formalization, digitization, and the need for scalable workforce solutions across sectors like IT, logistics, e-commerce, and manufacturing. With its proven track record, wide geographic footprint, and robust client base, Happy Square is well-positioned to tap into these opportunities. We are proud to partner with the company in its IPO journey, which will help fuel its growth ambitions and strengthen its presence in the rapidly evolving HR landscape.' Happy Square Outsourcing Services Limited is a technology driven consulting firm specializing in human resource outsourcing. Headquartered in Jabalpur, India, the company provides end-to-end staffing solutions, catering to recruitment and workforce. With a strong value system, structured processes, and deep industry expertise, Happy Square ensures high quality HR solutions for businesses across various sectors. In FY25, The Company Achieved a Revenue of ₹ 9,741.46 Lakhs, EBITDA of ₹ 944.67 Lakhs, & PAT of ₹ 590.34 Lakhs. Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
Associated Press
08-04-2025
- Business
- Associated Press
RETIREES SPEND THEIR LIFETIME INCOME, RATHER THAN SAVINGS
A New Study by Retirement Income Institute Fellows David Blanchett and Michael Finke Finds Retirees Spend More with Lifetime Income WASHINGTON, April 8, 2025 /PRNewswire/ -- Even if they can easily afford it, retirees are reluctant to spend savings for a more enjoyable lifestyle. Instead, retirees spend significantly more from their sources of lifetime income – such as Social Security, pensions, and/or annuities – than they do from their savings in IRAs and other retirement accounts. Those findings are part of a new research study, " Retirees Spend Lifetime Income, Not Savings,' by David Blanchett and Michael Finke, Research Fellows in the Retirement Income Institute (RII) at the Alliance for Lifetime Income. This research builds on their groundbreaking RII paper last year – 'Guaranteed Income: A License to Spend' which demonstrated that people can enjoy retirement more fully if they allowed themselves to spend money more freely. 'Overall, the analysis suggests that converting savings into lifetime income could increase retirement consumption significantly, especially for married households,' the study notes. 'Our analysis clearly demonstrates that households spend differently across sources of wealth. Retirees spend a much higher percentage of their lifetime income (about 80%) and spend about half the amount that they could safely spend from other sources.' The study also found retirees spend a higher rate of their savings after the federal government requires distributions from their retirement savings accounts. Retirees seem to view the forced asset distribution – known as Required Minimum Distributions (RMDs) – as income and spend it at a higher rate than they spend from other savings. RMDs are the minimum amounts people must withdraw annually starting at age 73 from qualified investment accounts to avoid penalties to the IRS. Accounts subject to RMDs include traditional IRAs, SEP IRAs, and most employer-sponsored retirement plans like 401(l)s. 'Overall, these findings have important implications for the current and future state of retirement in the United States given the rise of defined contribution (DC) plans as a more prevalent funding source for retirement,' the authors say. 'DC plans are principally focused on growing assets and typically are not explicitly focused on generating income. Therefore, unless steps are proactively taken to ensure retirees effectively use savings to fund spending, this analysis suggests households are likely to continue under-consuming in retirement potentially at even greater levels.' Blanchett and Finke point out steps can be taken to help retirees view their savings as income and therefore feel freer to spend: 'Financial institutions that are aware of the tendency to bracket investment decisions differently than lifetime income can focus on reframing wealth as income or automatically liquidate investments to create the appearance of income. For example, managed payout funds designed to distribute a percentage of wealth each year can help retirees frame savings as income.' The Fear of Knowing How Much You Can Spend Part of the reason retirees are reluctant to spend more freely is the complexity of navigating a retirement system designed with a focus on saving and investing (accumulation) rather than spending (decumulation of assets). 'Estimating how much income can be withdrawn from investments in retirement is far more complex than receiving a monthly pension payment,' the study notes. Complicating factors for retirees trying to determine how much to spend every year include a 'limited financial knowledge, an unknown lifespan' and 'an array of available financial resources to consider, including Social Security, pension, wages, and investment assets inside and outside of retirement accounts…" To better understand how people 65 and older are spending money, the study's authors analyzed data from the Health and Retirement Study, which is an ongoing nationally representative survey of approximately 20,000 Americans over 50 and supported by the Social Security Administration and National Institute on Aging. In the new RII study by Blanchett and Finke, two broad categories of available financial resources or assets were considered – income and savings: Income was separated into three groups: lifetime income (Social Security, pensions, and annuity income), earnings (wages and salaries for those who have not fully retired), and capital income (which includes income from businesses, rental property, dividends and interest, and trust funds or royalties). Savings were broken into qualified (defined contribution balances, IRAs, etc.) and non-qualified monies held in taxable accounts. 'Our analysis found much higher spending rates from lifetime income sources than from wages or capital income,' the study noted. 'Roughly 80% of lifetime income is spent, while less than half of wage income and capital income are spent. In addition, 65-year-old couples were found to be spending just 2% of their savings, which is roughly half of the commonly cited '4% rule' and even lower than most recent estimates, suggesting 5% is a more reasonable starting place.' 'Unless people purposefully want to leave behind a large bequest when they die, many retirees are denying themselves the opportunity to enjoy life by spending more of their savings,' said Blanchett, Head of Retirement Research at PGIM DC Solutions. 'I don't think people purposefully want to horde their savings; they are just finding it difficult to view savings as a potential form of retirement income,' added Finke, Professor and Frank M. Engle Chair of Economic Security Research at the American College of Financial Services. 'They are able to make that adjustment when they receive annuity and RMD payments, so there is a path to getting over this behavioral barrier.' RII's Previous Research into Spending in Retirement In a June 2024 study, Guaranteed Income: A License to Spend, Blanchett and Finke, determined that retirees with assets that annuitize income spend twice as much as retirees with an equal amount of non-annuitized savings. Blanchett and Finke find that every $1 of assets converted to guaranteed income could result in roughly twice the equivalent spending compared to money left invested in a portfolio. This effect suggests that the explanation for under-spending of non-annuitized savings among retirees is likely both a behavioral and a rational response to longevity risk. Their analysis corresponds with findings in the Alliance's 2024 Protected Retirement Income and Planning (PRIP) Study, in which 46% of the 2,516 consumers aged 45 to 75 surveyed acknowledged that spending their savings gives them anxiety. About The Alliance for Lifetime Income The Alliance for Lifetime Income (ALI) is a non-profit (c)(6) consumer education organization based in Washington, D.C., that creates awareness and educates Americans about the value and importance of having protected income in retirement. The Alliance provides consumers and financial professionals with unique educational resources and interactive tools to use in building retirement income strategies and plans. We believe annuities – one of only three sources of protected lifetime income – can be an important part of the solution for retirement security in America. The Alliance's Retirement Income Institute houses the leading retirement scholars and experts who create evidence-based research and analysis, with practical ideas and actions to help protect retirees.
