Mindpool Technologies IPO – Review, Allotment Status, Subscription, Price, Date & more
Last Updated Date: Nov 18, 2022Mindpool Technologies is one of the leading IT Contract Staffing and Recruiting Services Provider delivering technology experts & capabilities to its clients from diverse industries across the world. The Company has issued 1,200,000 Equity shares of Rs.10 each. Let’s have a detailed review of the company and analytics of the Mindpool Technologies IPO release date, IPO offer price, subscription, Mindpool Technologies IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 30. Check the Live Share Price here Mindpool Technologies Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Mindpool Technologies IPO Review & Ratings
| Mindpool Technologies IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Mindpool Technologies IPO
Mindpool Technologies is a robust global provider of expert-level IT Consulting Services recognized in India & US for outstanding service delivery, sustained relationships, consistent results, and innovation. They are experienced across a number vertical industries with specialization in IT Contract Staffing, Oracle Consulting and RPO. The Company is launching the IPO for up to 1,200,000 Equity shares of Rs.10 each as face value. The main Objective of this IPO:
- Funding of working capital requirements of the Company
- General Corporate Purpose
- Issue Expenses
The Promoter of this company are RITESH R SHARMA and POONAM R SHARMA. The lead manager to the issue is HEM SECURITIES LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
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Mindpool Technologies IPO Date
The opening and the closing date of IPO of Mindpool Technologies is Feb 14, 2019 to Feb 20, 2019.
Mindpool Technologies IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 : Feb 14 | – | 1.25x | 0.03x | 0.64x |
| Day 2 : Feb 15 | – | 1.51x | 0.08x | 0.79x |
| Day 3 : Feb 18 | – | 1.53x | 0.30x | 0.92x |
| Day 4 : Feb 19 | – | 1.53x | 0.33x | 0.93x |
| Day 5 : Feb 20 | – | 1.73x | 0.43x | 1.08x |
| Shares Offered or Net Issue | – | 568,000 | 568,000 | 1,136,000 |
The shares subscribed by the public will be updated herein on a daily basis.
Mindpool Technologies IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Mindpool Technologies IPO Price Band
The face value of each share is Rs 10, the cash price is Rs 30.
Mindpool Technologies IPO Equity Share Offering
1,200,000 Equity Shares of Rs 10/- each but Issue Price is Rs 30, it will be aggregated to Rs (1,200,000* Rs 30) = 3.60 Crores.
The shares are listed on NSE. The Minimum Order Quantity or Market Lot is 4000 Shares.
Mindpool Technologies Limited – Company Overview
Mindpool Technologies Private Limited was incorporated dated February 21, 2011 under the provision of Companies Act, 1956 by Registrar of Companies, Pune. The Company is engaged in the business of IT staffing and consultancy. They have their registered office in Pune, corporate office in Bangalore and virtual offices in Mumbai and Chennai. They are 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. As of March 31, 2018, we served 22 clients and have 103 employees.
Key clients include Herbalife International India Private Ltd, Clairvoyant India Private Limited, Inspirage Software Consulting Private Limited, HTC Global Services (India) Private Ltd. etc
The Company is promoted by Ritesh R Sharma, who has over a decade of experience in the IT industry. He is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Mindpool Technologies Limited:
- Diverse portfolio of Services.
- Established relationship with clients leading to recurring business.
- Experienced management and operational team.
- Customer Satisfaction.
- Diversified Industry Sectors.
Business strategies of Mindpool Technologies Limited:
- Technology and Operational Excellence.
- Attract and retain talented employee.
- Increased Focus on Oracle based services.
- Strong Business Development and Sales team.
- Develop and maintain relationships with the Clients.
- Enhancing Operating Effectiveness and Efficiency.
Mindpool Technologies Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 1,556.36 | 1,393.26 | 1,679.83 | 1,315.05 |
| Total Expense | 922.47 | 1,822.84 | 2,356.47 | 2,047.40 |
| Total Revenue | 1,081.35 | 2,043.36 | 2,537.77 | 2,078.07 |
| Profit After Tax | 146.19 | 163.22 | 129.25 | -33.42 |
Earnings per Equity Share (in Lakhs)
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | |
| Basic | 4.75 | 3.39 | 4.75 |
| Diluted | 5.62 | 4.30 | (1.13) |
From the above statements, one could find that the Mindpool Technologies Limited may perform well.
Mindpool Technologies IPO – Promoters
The Promoter of this company are:
- Mr. Ritesh R. Sharma and
- Mr. Poonam R. Sharma
List of Related Parties (Key Managerial Personnel)
- Paramjeet K Mehta
- Renuka Trika
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Mindpool Technologies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Issue of 12,00,000 Equity Shares of Rs.10 each fully paid-up of our Company for cash at a price of Rs.30 per Equity Share aggregating to Rs. 360.00 Lakhs. |
| Of which: | |
| Reserved for Market Makers | 64,000 Equity Shares of Rs.10 each fully paid-up of our Company for cash at a price of Rs.30 per Equity Share aggregating to Rs.19.20 Lakhs |
| Net Issue to the Public | 11,36,000 Equity Shares of Rs.10 each fully paid-up of our Company for cash at a price of Rs.30 per Equity Share aggregating to Rs.340.80 Lakhs. |
| Of which: | |
| Retail Investors Portion | At least 5,68,000 Equity Shares of Rs.10 each fully paid-up of our Company for cash at a price of Rs.30 per Equity Share aggregating to Rs.170.40 Lakhs will be available for allocation to Retail Individual Investors |
| Non-Retail Investors Portion | Not more than5,68,000 Equity Shares of Rs.10 each fully paid-up of our Company for cash at a price of Rs.30per Equity Share aggregating to Rs.170.40 Lakhs will be available for allocation to investor other than Retail Individual Investors including Non-Institutional Investors and Qualified Institutional Buyers |
| Equity Shares outstanding prior to the Issue | 30,37,500 Equity Shares of Rs.10 each |
| Equity Shares outstanding after the Issue | 42,37,500 Equity Shares of Rs. 10 each |
Mindpool Technologies IPO Issue Object
These are the IPO Issue Objects of the company
- Funding of working capital requirements of the Company
- General Corporate Purpose is Rs 33.40 Lakhs
- Issue Expenses is Rs 92.60 Lakhs
Net Issue Proceed is Rs 267.40 Lakhs
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Mindpool Technologies IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
-
- Diverse portfolio of Services
- Established relationship with clients leading to recurring business
- Experienced management and operational team
- Customer Satisfaction
- Diversified Industry Sectors
- International Presence
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 4.41 | 19.17% | 30.98 |
| 31-Mar-17 | 3.39 | 12.83% | 26.42 |
| 31-Mar-18 | 4.75 | 15.20% | 23.03 |
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Mindpool Technologies IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED
904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg, |
Mindpool Technologies IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis |
Other Details:
- Statutory Auditor – M/s Katariya & Munot Chartered Accountant.
- Peer Review Auditor –P S D & Associates, Chartered Accountants
- Bankers to the Company – ICICI Bank
Mindpool Technologies IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Mindpool Technologies IPO Grey Market Premium
The Mindpool Technologies IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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