Mindtree Ltd proposes to offer equity shares

Hyderabad, Feb 6: MindTree Consulting Limited, an IT and R&D Services Company that delivers business and technology solutions through global software development, is proposing an Initial Public Offering (IPO) of its equity shares through 100 per cent book building process.

MindTree proposes to offer 55,93,300 equity shares of Rs 10 each at a price band of Rs 365 to Rs 425 per equity share.

The issue comprises of a net issue of 49,40,740 equity shares of Rs 10 each to the public and upto 3,72,900 equity shares of Rs 10 each reserved for subscription by eligible employees and upto 2,79,660 equity shares of Rs ten each reserved for subscription by business associates. The issue will constitute 15 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 upto 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 J M Morgan Stanley Private Limited are the Book Running Lead Managers, J P Morgan India Private Limited is a Co-Book Running Lead Manager and Macquarie India Advisory Services Private Limited is a Lead Manager to the issue.

The IPO was scheduled to open on February 9 and close on February 14, the company said today.

UNI