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MindTree Consulting to tap market

CHENNAI: Bangalore-based MindTree Consulting, engaged in providing IT and R&D services, is entering the capital market with an initial public offering of 55.93 lakh equity shares of Rs. 10 each at a price band of Rs. 365-425 per share through the book building process. The IPO will remain open from February 9 to 14. Addressing presspersons here on Friday, Subroto Bagchi, Chief Operating Officer, said the funds will be partly utilised for setting up a new development centre in Mahindra World City, Chennai, and prepay part of outstanding debt.

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