Mindpool Technologies IPO – Review, Allotment Status, Subscription, Price, Date & more

Mindpool 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.

 


Mindpool Technologies IPO Review & Ratings

Mindpool Technologies IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

 


Summary of Mindpool Technologies  IPO

Mindpool Technologies IPOMindpool 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 / DateQIBNIIRIITotal Subscription
    Day 1 : Feb 141.25x0.03x0.64x
    Day 2 : Feb 151.51x0.08x0.79x
    Day 3 : Feb 181.53x0.30x0.92x
    Day 4 : Feb 191.53x0.33x0.93x
    Day 5 : Feb 201.73x0.43x1.08x
    Shares Offered or Net Issue568,000568,0001,136,000

    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-1831-Mar-1831-Mar-1731-Mar-16
    Total Assets1,556.361,393.261,679.831,315.05
    Total Expense922.471,822.842,356.472,047.40
    Total Revenue1,081.352,043.362,537.772,078.07
    Profit After Tax146.19163.22129.25-33.42

     

    Earnings per Equity Share (in Lakhs)

    31-Dec-1731-Mar-1731-Mar-16
    Basic 4.75 3.394.75
    Diluted 5.624.30(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:

    1. Mr. Ritesh R. Sharma and
    2. 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 PortionNot 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 Issue30,37,500 Equity Shares of Rs.10 each
     Equity Shares outstanding after the Issue42,37,500 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 EPSRONW (%)NAV (Rs.)
    31-Mar-164.4119.17%30.98
    31-Mar-173.3912.83%26.42
    31-Mar-184.7515.20%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,
    Elphinstone Road Mumbai-400 013, India.
    Tel : 022 4906 0000; Fax: 022 2262 5991
    Email: ib@hemsecurities.com
    Investor Grievance Email: redressal@hemsecurities.com
    Contact Person: Radhika Soni
    Website: www.hemsecurities.com
    SEBI Registration number: INM000010981

    Mindpool Technologies IPO Registrar to offer

    Registrar to the Offer
    BIGSHARE SERVICES PRIVATE LIMITED

    1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
    Makwana Road, Marol, Andheri East, Mumbai – 400059
    Tel No.: 022-62638200
    Fax No.: 022-62638299;
    Website: www.bigshareonline.com
    Email: ipo@bigshareonline.com;
    Contact Person: Srinivas Dornala
    SEBI Registration No.: INR000001385


    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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
    Angel Broking6.5/106.6/106.6/106.4/106.4/10
    Sharekhan6.7/106.4/106.6/106.1/106.2/10
    Kotak Securities6.7/106.7/106.7/106.4/106.3/10
    ICICI Direct6.6/106.3/106.7/106.5/106.5/10
    IIFL6.4/106.7/106.8/106.4/106.7/10
    Edelweiss6.7/106.4/106.4/106.3/106.7/10
    Zerodha6.5/106.4/106.7/106.4/106.5/10
    5Paisa6.7/106.4/106.3/106.7/106.5/10
    Karvy6.8/106.3/106.7/106.4/106.0/10
    Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

     

    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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      Mindpool Technologies IPO News

      News 1 – IPO ISSUES OPENS SOON (Download Prospectus)


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