MindTree files IPO papers

MindTree Consulting, an international IT and R&D services, has filed its
draft red herring prospectus (DRHP) with Securities & Exchange Board of India (Sebi). It 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, up to 3,72,900 shares to be reserved for employees and up to 2,79,660 shares to be reserved for business associates.

The issue is being made through the 100% book-building method, and will constitute 15% of the post-issue capital of the company.

Kotak Mahindra Capital Company and JM Morgan Stanley are the Book Running Lead Managers to the issue