MindTree Consulting Ltd IPO price band fixed

Chennai, Feb 2: MindTree Consulting Ltd, an international IT and R&D Services company, has fixed the price band for its initial public offering (IPO) at Rs 365 to Rs 425 per equity share through 100 per cent book-building process.

Announcing this at a press conference here today, MindTree Consulting Chief Operating Officer (CPO) Subroto Bagchi said the issue comprised a net issue of 49,40,740 equity shares of Rs ten each to the public and up to 3,72,900 equity shares reserved for subscription by eligible employees.

As much as 27,9660 equity shares reserved for subscription by business associates. The issue would constitute 15 per cent of the post-issue capital of the company, he said.

It had proposed to offer 5,593,300 equity shares of Rs 10 each and the issue would open on February nine and close on February 14.

Kotak Mahindra Capital and J M Morgan Stanley are the Book Running Lead Managers to the issue, while J P Morgan India is the Book unning Lead Manager and Macquarie India Advisory Services is a lead manager.

UNI