Company Background - Mindtree Ltd

The company was incorporated as MindTree Consulting Private Limited on August 5, 1999 by a group of ten individual promoters of which three of them invested through an entity incorporated in Mauritius. The company is an international IT consulting company that delivers affordable 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. The company also delivers product-development services and designs reusable building blocks for high-tech companies. The company is also present in California, Illinois, New Jersey, Virginia and Colorado in the U.S., United Kingdom, Germany, Singapore, Japan, Middle East, Australia, Switzerland and Sweden. The company has structured into two business units that focus on software development - IT Services and R&D Services. The company have clients that range from Fortune 10 companies to enterprise software organizations.

In September 2004, the company has acquired the software divisions of ASAP Solutions Private Limited ('ASAP') and Arachno Solutions Private Limited ('ARSPL'). ARSPL is a wholly owned subsidiary of ASAP, and both companies were engaged in, inter alia, providing information technology services, specifically SAP implementation and maintenance, data management and customized application development in Asia and USA. The company has acquired the software business of ASAP Solutions Inc., the wholly owned subsidiary of ASAP through a concurrently operating agreement.

In June 2005, The company has acquired 100% share capital of Linc Software Services Private Limited engaged in the business of application development and maintenance, ERP product support and webdevelopment. By virtue of the acquisition, Linc Software Services Private Limited, subsequently renamed as MindTree Software Services Private Limited, became subsidiary of MCL. Further, by a scheme of arrangement as approved by the High Court of Karnataka dated July 28, 2006, MindTree Software Services Private Limited was merged with MCL w.e.f April 1, 2005.

February 2007, the company has entered into capital market. The company has issued 55,93,300 Equity shares to the public. Issue price is Rs.425/- per share.