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Tuesday, December 12, 2006

MindTree Consulting files DRHP with Sebi

MindTree Consulting, an international IT and R&D services company that delivers business and technology solutions through global software development, has filed its draft red herring prospectus, DRHP with Securities & Exchange Board of India, Sebi to enter the capital market with an initial public offering, IPO of equity shares, as per press release.

The company proposes to offer 55,93,300 equity shares of Rs 10 each. The issue comprises of a net issue of 49,40,740 equity shares of Rs 10 each to the public and up to 3,72,900 equity shares of Rs 10 each will be reserved for subscription by eligible employees and upto 279,660 equity shares of Rs 10 each will be reserved for subscription by business associates.

The issue is being made through the 100% book building method in accordance with the Sebi. The issue will constitute 15% of the post-issue capital of the company and the net issue will constitute 13.25% of the post-issue capital of the company.

Of the net issue, 60% is being reserved for allotment to qualified institutional buyers, of which 5% will be reserved for allotment to mutual funds. A further up to 10% will be allotted to non-institutional investors and the balance up to 30% will be allotted to retail investors.

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

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