MindTree's IPO price fixed at Rs 425 per equity

Bangalore, Feb 22 (UNI) MindTree Consulting Limited, an IT and R and D Services company, has fixed the issue price at Rs 425 for the Initial Public Offering of 5,593,300 equity shares of Rs ten 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, was subscribed 103.28 times. The equity shares of the company were proposed to be listed on the National Stock Exchange and Bombay Stock Exchange, a company release here said today.

The issue comprised a net issue of 4,940,740 equity shares to the public, up to 372,900 equity shares reserved for subscription by eligible employees and up to 279,660 equity shares reserved for business associates. Of the net issue, 60 per cent was being reserved for allotment to Qualified Institutional Buyers, of which five per cent was being reserved for Mutual Funds. A further up to ten per cent would be allotted to Non-Institutional Investors and the balance up to 30 per cent would be allotted to Retail Investors, the release said.

UNI