Mindpool Technologies was incorporated on February 21, 2011. the company is engaged in the business of providing oracle consultancy services, IT staffing and solutions and corporate training services across various industries including viz. banking and financial services, automotive and engineering, telecom, healthcare, retail and entertainment in India and US.
| Bidding Dates |
|---|
| 14 Feb 2019 - 20 Feb 2019 |
| Subscription |
|---|
| 2.09x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 4000 | 1.2 M | ₹30 | 71.68 % | ₹36.0 M | RHP DOC |
Mindpool Tech IPO SUBSCRIPTION STATUS
20 Feb '19Mindpool Tech IPO overall subscription rate was 2.09 times the total available shares
Mindpool Tech IPO retail subscription rate was 1.65 times in the retail segment
Mindpool Tech IPO non-institutional investor subscription rate was 2.53 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
20 Feb 2019 (Day 5) | 1.65x | 2.53x | - |
14 Feb 2019 (Day 1) | 0.03x | 1.25x | - |
15 Feb 2019 (Day 2) | 0.06x | 1.51x | - |
18 Feb 2019 (Day 3) | 0.3x | 1.53x | - |
19 Feb 2019 (Day 4) | 0.36x | 1.53x | - |
Mindpool Tech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 6MFY19 | 14.6 | 102.8 | -8.9 | -9.2 |
| FY18 | 16.3 | 202.2 | -9.8 | -9.9 |
| FY17 | 12.9 | 248.6 | 3.9 | 0.3 |
| FY16 | -3.3 | 207.0 | -22.1 | -23.2 |
Mindpool Tech IPO SUBSCRIPTION STATUS DETAILS
Mindpool Tech had 1.2 M shares on offer
Mindpool Tech IPO offer price was ₹30
Mindpool Tech IPO minimum Investment was ₹120000
Mindpool Tech IPO issue size was ₹ 36.0 M
Mindpool Tech had a minimum lot size of 4000 Shares per application
Mindpool Tech NUMBER OF SHARES ON OFFER
Mindpool Tech IPO IMPORTANT DATES
| Issue Open Date | 14 Feb 2019 |
| Issue close Date | 20 Feb 2019 |
| Allotment Date | 25 Feb 2019 |
| Refund Date | 26 Feb 2019 |
| Demat Account Credit Date | 27 Feb 2019 |
| Listing Date | 28 Feb 2019 |
| Listing on Exchange(s) | NSE |
| Mindpool Tech Allotment Status | Exchange |
Mindpool Tech IPO subscription opened on 14 Feb 2019, and closed on 20 Feb 2019
IPO allotment for Mindpool Tech was finalized on Monday, 25 Feb 2019
IPO listing for Mindpool Tech was on NSE on Thursday, 28 Feb 2019
Mindpool Tech IPO LISTING GAINS
| Issue Price (adjusted) | 30.0 |
| Listing Open Price | 30.0 |
| Listing Close Price | 28.5 |
| Listing Gain% | 0.0% |
| Current Gain% | 137.0% |
Mindpool Tech INFORMATION ON IPO ISSUE
About Mindpool Tech
Mindpool Technologies was incorporated on February 21, 2011. the company is engaged in the business of providing oracle consultancy services, IT staffing and solutions and corporate training services across various industries including viz. banking and financial services, automotive and engineering, telecom, healthcare, retail and entertainment in India and US.
Object of the Issue
- Working capital requirement - Rs 190.0 lakh
- Repayment of a portion of bank borrowings - Rs 44.0 lakh
- General corporate purpose - Rs 33.4 lakh
- Issue expenses - Rs 92.6 lakh
Mindpool Tech - PROMOTERS
| Name |
|---|
| Ritesh R Sharma |
| Poonam R Sharma |
Mindpool Tech Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Mindpool Tech Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Mindpool Tech Strengths
Diverse portfolio of services
The company's diverse portfolio of services comprises of IT staffing and solution, oracle consultancy services, and corporate training service
Experienced management
Promoters, Ritesh R. Sharma and Poonam R. Sharma, have over 10 years and 7 years of experience, respectively, in operating business
Diversified industry sectors
The company delivers services across various industries including viz. banking and financial services automotive and engineering, telecom, healthcare, Retail, and Entertainment
Mindpool Tech Risks
Dependent on one key client
A significant portion of revenue is generated from one of the key clients
Negative cash flow
The net cash flow from operating activity has been negative in some years in the past and any negative cash flow in the future may affect liquidity and financial condition
IPO FAQs
The promoters of the company are Ritesh R Sharma and Poonam R Sharma.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 30.0 - 30.0.
The IPO application opens on Feb 14, 2019 and closes on Feb 20, 2019.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Feb 25, 2019.
The refund will be credited to your account on Feb 26, 2019.
The allotted shares will be credited to your demat on Feb 27, 2019.
Mindpool Technologies Ltd.’s shares listed on the stock exchanges on Feb 28, 2019.