MindTree fixes IPO price at Rs 425 per share

BANGALORE: MindTree Consulting Limited has fixed the Issue price at Rs 425 for the Initial Public Offering of 5,593,300 equity shares of Rs 10 each issued at a pre-IPO price band of Rs 365 to Rs 425 per equity share through the 100 per cent book building process.

The Issue closed for subscription on February 14 and was subscribed 103.28 times (as per the National Stock Exchange website). The equity shares of the company are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

The Issue comprised a Net Issue of 4,940,740 equity shares of Rs 10 each to the public and up to 372,900 equity shares of Rs 10 each reserved for subscription by Eligible Employees and up to 279,660 equity shares of Rs 10 each reserved for subscription by Business Associates.

The Issue constituted 15 per cent of the post-Issue capital of the Company and the Net Issue constitutes 13.25 per cent of the post-Issue capital of the Company. Of the Net Issue, 60 per cent is being reserved for allotment to Qualified Institutional Buyers (QIB), of which 5 per cent is being reserved for allotment to Mutual Funds.

A further up to 10 per cent will be allotted to Non-Institutional Investors and the balance up to 30 per cent will be allotted to Retail Investors.

The QIB portion was subscribed around 157 times; the non-institutional investor portion was subscribed 135 times and the Retail investor portion was subscribed over 30 times.

Kotak Mahindra Capital Company Ltd. and JM Morgan Stanley Pvt. Ltd are the Book Running Lead Managers to the Issue. JP Morgan India Pvt. Ltd is the Co–Book Running Lead Manager and Macquarie India Advisory Services Pvt. Ltd is the Lead Manager to the Issue.

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