Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

MindTree Consulting, an international IT and R&D Services Company that delivers business and technology solutions through global software development, is entering the capital market with an initial public offering, IPO of 5,593,300 equity shares of Rs 10 each at a price band of Rs 365 to Rs 425 per equity share through the 100% book building process.

Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts said apply.

Experts/Company	Poll Result	Experts view
R S Iyer (KR Choksey)	Apply	Mindtree consulting is an excellent issue. Its managing director has good experience and excellent performance. It is available at EPS of Rs 23.10 post issue. It has high potential to grow in the long run like Infosys. Its promotors background is excellent and one should definitely bet on it.
SP Tulsian (Investment Advisor)	Apply	Mindtree Consulting is a good issue at the upper price band. Overall it looks to be good company, which has been growing 85% since three years and likely to grow by 50% in the future.
Manish Bhatt (Prabhudas Lilladher)	Apply	Mindtree Consulting looks to be good issue; valuations are attractive. The company is very strong in R&D, CAGR stood at 85% since three years. The operating profit margin also improved drastically. They increased employees from 1000 to 3160 in 2006. Its client base is healthy and geographically, 63% revenues come from US, 14% from Asia Pacific and 23% from Europe.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The IPO is scheduled to open on Friday, February 9, 2007 and close on Wednesday, February 14, 2007.

The issue comprises of a net issue of 4,940,740 equity shares of Rs 10 each to the public and up to 372,900 equity shares of Rs 10 each reserved for subscription by eligible employees and up to 279,660 equity shares of Rs 10 each reserved for subscription by business associates.

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.

MindTree is organised into two divisions - Information Technology Services and Research and Development Services. IT Services comprise IT strategic consulting, application development and maintenance, package implementation and product engineering services. The IT Services business unit offers such services with a strong focus on certain industries including manufacturing, travel and transportation, banking, financial services and insurance.

R&D Services are organised into two divisions - Engineering, which provides product realisation services including architecture and design, re-engineering and product assurance to technology and product firms; and Research, which conceives and develops intellectual properties, primarily in the short-range wireless communication segment and licences and customises such intellectual properties for clients.

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.