Here are the full details of the anchor investments:
With services such as cloud and security and analytics accounting for 97 per cent of its revenues, the Bengaluru-headquartered company is more of a digital services company than legacy IT players, which have only 35-50 per cent of their revenues coming from the segment.
At the price band of Rs 165-166, the issue is seeking a valuation for 26.76 times FY20 earnings per share. Analysts said that the valuations look high, but given the demand for midcap and smallcap IT stocks these days, risk-taking investors can consider subscribing to the IPO.
Soota, one of the co-founders of Mindtree, would offload 8,414,223 shares while CMDB II (JP Morgan Asset Management) 27,249,362 shares in the offer for sale (OFS). This would amount to Rs 592 crore. This would be JP Morgan Management‘s entire 19.3 per cent stake.
The company would also raise Rs 110 crore by offering fresh shares, which would be utilised to meet long-term working capital requirements and general corporate purposes.