When was mindtree started

Four reasons essentially explain how Mindtree survived many of the challenges it faced. During the dot-com crisis, when almost of the companies that were set up in crashed, Mindtree had enough money to steer through the stress. Second, the decision to include engineering business helped the firm diversify with an alternative revenue stream.

Third, during the dot-com crash and then again during the financial crisis of , the senior management, led by the founders, agreed to take salary cuts. Finally, there was the excellent rapport between the founding team and the key investors, the two VCs in Walden Software and Siddhartha.

So when the crunch came in , why did Siddhartha choose to sell his crucial Siddhartha was forced to sell his shares because of a sudden liquidity squeeze in the lending markets , triggered by defaults in payments by Infrastructure Leasing and Financial Services Ltd in August. With repayment deadlines fast approaching, he needed to monetize his holding in Mindtree at the earliest. However, none of the dozen-odd private equity firms, sovereign funds and long-term funds which were interested in buying his shares was okay with a complex deal.

This was because for any sale to take place, the potential buyer needed to pay for the unpledging of the shares before buying them or at least agreeing to an arrangement wherein the shares stayed with the banks even while the transaction to sell them was underway. Narayana Murthy, S. Shibulal, and Krish Senapathy Gopalakrishnan to pick up some shares," said a former Infosys executive. But the founders Mindtree thought nothing will happen to them. What is clear is that their inability to buy the shares of the five co-founders who exited the company over the years, in the process leaving the current founders with just Thus, when Soota exited in , he sold his substantial Explore Jobs.

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