MindTree enters Capital market, files DRHP

Bangalore, De 15: MindTree Consulting Limited, an International IT and R&D services company has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI), to enter the capital market with an initial public offering of equity shares.

Eacj share is priced at Rs 10 each and the offer proposed by the company is 5,593,300. The public is open to net issue of 4,940,740 equity shares while 372,900 shares of Rs 10 each is for the elligible employees for subsription and up to 279,660 equity shares of Rs 10 each will be reserved for subscription by Business Associates.

The company's issues of shares is in acordance with the SEBI (Dislosure and investor Protection)Guidelines, 2000. The issue will constitute 15.00 per cent of the post-Issue capital of the company and the net issue will constitute 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, of which five per cent will be 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.

Kotak Mahindra Capital Company Limited and JM Morgan Stanley Private Limited are the book running lead managers, J P Morgan India Private Limited is a co-book running lead manager and M acquarie India Advisory Services Private Limited is a lead manager to the issue.

Sources