In August 1999, Mindtree Consulting Private Limited was founded by ten IT professionals three of which invested through an entity incorporated in Mauritius. It was funded by the venture capital firms Walden International and Sivan Securities, and received further funding in 2001 from the Capital Group and Franklin Templeton. It became a public company on 12 December 2006 and was listed on the Bombay Stock Exchange and National Stock Exchange. Its IPO debuted on 9 February 2007 and closed on 14 February 2007. The IPO was oversubscribed by more than a hundred times. Mindtree announced a new brand identity and logo, with the slogan "Welcome to possible" on 28 September 2012. In 2012, Mindtree setup its first U.S. delivery center in Gainesville, Florida, under the leadership of Scott Staples, co-founder and Global Head of Sales. As of 2017, the company has 43 offices in over 17 countries. Larsen & Toubro, an infrastructure major and one of the largest conglomerates in India, took over control of Mindtree on June 2019 and currently has a 61.08% stake in the company. In March 2020, Mindtree announced the appointment of Dayapatra Nevatia as COO with immediate effect. He joins the company from Accenture where he was the managing director as well as the director for delivery for advanced technology centers in India.
Mindtree has a total of 21,991 employees as of March 2020, of which 32% were women. Its workforce consists of employees from over 80 nationalities working from various offices around the globe. Out of its total workforce, 95% are software professionals and remaining 5% work in support and sales.
Acquisitions
Subsidiaries
Philanthropy
Mindtree Foundation is a unit of Mindtree that works towards improving the lives of people with disabilities and the enhancement in the quality of primary education. Mindtree Foundation was incorporated on 20 November 2007 under section 25 of Companies Act. Mindtree's employees, assistive technologies and associations with NGOs led to the following:
The launch of 'Udaan', a scholarship program to support the medical education of underprivileged students in association with Narayana Hrudayalaya Charitable Trust.
The launch of 'I Got Garbage', a cloud-based platform aimed to simplify waste management and transform every waste picker in Bengaluru, India into an entrepreneur through a structured and governed waste management framework.
Individual Social Responsibility – Employees join the cause of donation of old clothes/toys/books, distribution of solar lanterns, caring for the elderly, cleaning up the city, blood and organ donation.
