Bookbuilding IPO | ₹238 Cr | Listed at BSE, NSE | Fri, Feb 9, 2007 - Wed, Feb 14, 2007
MindTree Consulting IPO is a book build issue of ₹237.72 crores. The issue is entirely a fresh issue of 0.56 crore shares of ₹237.72 crore.
MindTree Consulting IPO bidding started from Feb 9, 2007 and ended on Feb 14, 2007. The shares got listed on BSE, NSE on Mar 7, 2007.
MindTree Consulting IPO price band is set at ₹425 per share. The lot size for an application is 15. The minimum amount of investment required by an retail is ₹6,375 (15 shares) (based on upper price). The lot size investment for sNII is 32 lots (480 shares), amounting to ₹2,04,000, and for bNII, it is 157 lots (2,355 shares), amounting to ₹10,00,875.
The issue includes a reservation of up to 3,72,900 shares for employees offered at a discount of ₹0.00 to the issue price.
JP Morgan India Pvt.Ltd. is the book running lead manager and Mondkar Computers Pvt.Ltd. is the registrar of the issue.
Refer to MindTree Consulting IPO RHP for detailed Information.
IPO Open
Fri, Feb 9, 2007
IPO Close
Wed, Feb 14, 2007
Issue Price
₹425 per share
Market Cap (Pre-IPO)
₹1,584.76 Cr
| IPO Date | 9 to 14 Feb, 2007 |
| Listed on | Wed, Mar 7, 2007 |
| Face Value | ₹10 per share |
| Price Band | ₹365 to ₹425 |
| Issue Price | ₹425 per share |
| Lot Size | 15 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 55,93,300 shares (agg. up to ₹238 Cr) |
| Fresh Issue | 55,93,300 shares (agg. up to ₹238 Cr) |
| Share Holding Pre Issue | 3,16,95,237 shares |
| Share Holding Post Issue | 3,72,88,537 shares |
| BSE Script Code / NSE Symbol | 532819 / MINDTREE |
| ISIN | INE018I01017 |
MindTree Consulting IPO comprises a total issue size of 55,93,300 shares. The net offer to the public is 49,40,740 shares, after excluding 6,52,560 shares under a preferential allotment. Of the Net offer 29,64,445 (60.00%) are allocated to QIB, 4,94,075 (10.00%) allocated to NII 14,82,220 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 29,64,445 | 60.00% | 53.00% | NA |
| NII (HNI) Shares Offered | 4,94,075 | 10.00% | 8.83% | NA |
| Retail Shares Offered | 14,82,220 | 30.00% | 26.50% | 98,814 |
| Preferential Reservations | ||||
| Employee Shares Offered | 3,72,900 | 6.67% | NA | |
| Other Shares Offered | 2,79,660 | 5.00% | NA | |
| Total Shares Offered | 55,93,300 | 100.00% | 100.00% | |
Investors can bid for a minimum of 15 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 15 | ₹6,375 |
| Retail (Max) | 31 | 465 | ₹1,97,625 |
| S-HNI (Min) | 32 | 480 | ₹2,04,000 |
| S-HNI (Max) | 156 | 2,340 | ₹9,94,500 |
| B-HNI (Min) | 157 | 2,355 | ₹10,00,875 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
MindTree Consulting is an international IT company that delivers business and technology solutions through global software development. Co-headquartered in Somerset, New Jersey and Bangalore, India, the company's seasoned management team and employees skilled in technology, business analysis and project management approach technology initiatives in a business context.
Organization Structure:
MindTree has two business lines – Information Technology Services ("IT Services") and Research and Development Services ("R&D Services"):
IT Services comprise IT strategic consulting, application development, data warehousing and business intelligence, application maintenance, package implementation and application product engineering services;
R&D Services are organised into two divisions – Engineering, which provides product realisation services to technology and product firms including product architecture and product design, product re-engineering and product assurance; and Research, which conceives and develops intellectual property primarily in the short range wireless communication segment and licenses and customises such intellectual property.
Clients:
MindTree's top customers included three Fortune 10 companies and six additional Fortune 100 companies, such as American International Group and United Technologies Corporation.
Financial brief:
MindTree has achieved substantial growth in revenues in recent years. MindTree's revenues grew at a compound annual growth rate of 46.9% from Rs. 656.0 million in Fiscal 2001 to Rs. 4,488.0 million (approximately US$101.6 million) in Fiscal 2006.
MindTree's net profit grew at a compound annual growth rate of 360.2% from Rs. 25.6 million in Fiscal 2004 to Rs. 542.1 million (approximately US$ 12.3 million) in Fiscal 2006.
MindTree's people strength increased from 442 as of March 31, 2001 to 3,128 as of March 31, 2006.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fund a new development centre in Chennai | 120.74 |
| 2 | Prepay certain loans | 18.77 |
| 3 | General corporate purposes | 75.27 |
| KPI | |
|---|---|
| RoNW | 41.76% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 42.23% | 35.9% |
| Market Cap | ₹1,584.76 Cr. |
The MindTree IPO is subscribed 103.28 times on February 14, 2007 5:00:00 PM (Day 4). The public issue subscribed 30.06 times in the retail category, 156.98 times in the QIB category, and 134.96 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee and underwriting commissions | 9.48 |
| 2 | Advertising and Marketing expenses | 3.07 |
| 3 | Printing and stationery | 4.96 |
| 4 | Others (Monitoring agency fees, Registrar’s fee, legal fee, etc.) | 5.44 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹425.00 | ₹425.00 |
| Open | ₹599.00 | ₹627.00 |
| Low | ₹575.20 | ₹576.00 |
| High | ₹678.80 | ₹673.75 |
| Last Trade | ₹620.30 | ₹621.20 |
Lead Manager Reports
MindTree Consulting IPO is a main-board IPO of 55,93,300 equity shares of the face value of ₹10 aggregating up to ₹238 Crores. The issue is priced at ₹425 per share. The minimum order quantity is 15.
The IPO opens on Fri, Feb 9, 2007, and closes on Wed, Feb 14, 2007.
Mondkar Computers Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in MindTree Consulting IPO using UPI as a payment gateway. Zerodha customers can apply in MindTree Consulting IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MindTree Consulting IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MindTree Consulting IPO opens on Fri, Feb 9, 2007 and closes on Wed, Feb 14, 2007.
MindTree Consulting IPO lot size is 15, and the minimum amount required for application is ₹6,375.
You can apply in MindTree Consulting IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for MindTree Consulting IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the MindTree Consulting IPO allotment status.
The MindTree Consulting IPO listing date is on Wed, Mar 7, 2007.
