Mindpool Technologies Limited IPO

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Mindpool Technologies is a leading IT Staffing and Recruiting organization delivering technology experts to clients around the globe. 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 November 30, 2018, they have served various clients and have 68 Associate Employees.

Key Clients

The key clients include Herbalife International India Private Ltd, Clairvoyant India Private Limited,cInspirage Software Consulting Private Limited, HTC Global Services (India) Private Ltd and Opalforce INC etc.

Services of Mindpool Technologies

1. Oracle Consultancy Services:-

They provide extensive services in Oracle EBS, Oracle SCM and Oracle SOA covering upgrade & support solutions. The services include advising, building, implementing, managing and supporting Oracle solutions and operating Oracle systems for their clients.

2.  IT staffing solutions:

Our services include manpower recruitment and outsourcing for our clients, comprising permanent staffing solutions and flexi staffing solutions.

3. Corporate Training:

They provide the training programs to assist the employees of the clients in building their IT skillsets, to improve their technological knowledge, enhance their soft skills etc

Mindpool Technologies Limited IPO Stock Quote & Charts

19.00

+5.85%

  • Open: 19.00
  • High - Low: 19.00 - 19.00
  • Previous Close: 17.95
  • Total Traded Volume: 28000
  • Updated On: 09-Oct-2019

Objects of the Mindpool Technologies Limited IPO:

The Mindpool Technologies is issuing 1,20,000 Shares at Rs. 30 Per shares thereby getting 3.6 Cr for the Proceed. The Utilization of Funds will be done in the following way. 1. To meet working capital requirement = 190.00 Lakh 2. Repayment of a portion of Bank Borrowings = 44.00 Lakh 3. General Corporate Expenses = 33.40 Lakh 4. To meet the Issue Expenses = 92.60 Lakh

Mindpool Technologies Limited IPO Details:

Open Date: Feb 14 2019
Close Date: Feb 20 2019
Total Shares: 1200000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 3.6 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 30 Per Equity Share
Listing At: NSE Emerge
Listing Date: Feb 28 2019

Promoters And Management:

(i) Ritesh R. Sharma, CEO & Managing Director Equipped with more than 15 years of experience in the IT Staffing and Consulting industry, he is the Promoter and Managing Director of our Company. He has been associated with our company since inception. He holds a Bachelor‘s degree in commerce. He oversees our Business Operations and is also involved in Strategy Consulting, Business Plan, Sales Strategy Development, IT Solutions and Service delivery across India & North America. (ii) Poonam R. SharmaWhole Time Director With 7 years of dynamic experience in IT Staffing & Consulting industry, she is the Promoter and Whole Time Director of our Company. She holds a Bachelor‘s degree in commerce and has completed her B.ED (Bachelor of Education). She has been associated with our Company since inception. She is looking after the Human Resource and Administration Operations of our Company. (iii) G. Sathish Kumar, Country Head With the experience of 11+ years in the IT Staffing & Consulting industry, he is the Country Head of the company. He holds a Bachelor‘s degree and has done an MBA. He helps the company in securing new business avenues, nurture client accounts, manage organizational operations and facilitate growth and development of the clients from various industries.

Financials of Mindpool Technologies Limited IPO:

Year Revenue(lakh) Expense EBITDA(Lakh) EBITDA Margins PAT(Lakh) Profit Margins EPS
FY16 2,078.00 2,038.00 39.87 1.92% -33.00 -1.59% -1.11
FY17 2,537.00 2,305.00 232.6 9.17% 129.25 5.09% 4.26
FY18 2,043.00 1,801.00 242.1 11.85% 163.00 7.98% 5.37
6MFY18 1,081.00 914.00 167.23 15.47% 146.00 13.51% 4.81
IZ Review 1. The company Revenue has been stagnated in the last 3 years. 2. Employee Benefits expense is continuously decreasing from 13 Cr in FY17, to 9.58 Cr in FY18 and now to just 1.89 Cr for the first 6 months of FY19. This is not a trait of expanding company. 3. The company is debt free in terms of long term borrowing and have short term debt of 1.24 Cr. So they have manageable D/E.

Comparison With Peers:

The company believes that there are no listed companies which are operating in all the business segment as a company does.

Recommendation on Mindpool Technologies Limited IPO:

Review and Recommendation of Mindpool Technologies Limited IPO from IZ team are- 3/10. [ The company's revenue is stagnant in the last 3 years. They may have reduced the Employee Benefits Expense drastically just to improve the bottom-line and to improve the P/E ratio just before IPO. ]

Lead Manager of Mindpool Technologies Limited IPO:

  1. Hem Securities Limited

Registrar of Mindpool Technologies Limited IPO:

  1. Bigshare Services Private Limited

Bid Details of Mindpool Technologies Limited IPO as on
20-Feb-2019 17:00:00 IST

Category No.of shares offered No. of shares bid
568,000 1,436,000
568,000 940,000
64,000 64,000
1,200,000 2,440,000
QIBs No
QIBs+HNIs Subscription 2.53X
Retail Subscription 1.65X
Total Subscription 2.09X

Discussion on Mindpool Technologies Limited IPO:

    This sme is to be watch out for. Priced very attractively , Hem securities issues after long time, IT company,. Nse emerge listing,. Almost debt free company. Investor will be reward very handsomely.

    Inovvative tyres and tubes Ltd. LM was Pantamath, buy at ₹56 now sell at ₹20 very poor, I think Hem security is best.

    Why Show Yet Recommendation on Mindpool Technologies Limited IPO is Under Analysis
    Please Admin Update it as a Earlier Possible

    (i) EPS Calculation(3 Years Average Earnings)

    1. FY16 PAT= -33 Lakh
    2. FY17 PAT = 129 Lakh
    3. FY18 PAT = 163 Lakh

    Total Average PAT of last 3 Years= 86.3 Lakh

    Outstanding Shares before IPO = 30,37,500

    Outstanding Shares After IPO = 42,37,500

    EPS Before IPO= 2.84
    P/E Before IPO= 10.56

    EPS After IPO= 2.06

    P/E After IPO= 14.56

    (ii) Price to Book Value( Post Issue)

    Net Worth = 1,190.24 Lakh up to 30.09.2018

    Net Proceed from IPO= 360 Lakh

    Total Net Worth= 1550 Lakh

    Total Shares Outstanding= 42.375 Lakh

    Book Value= 36.57

    Price/Book Value= 0.82