Happiest Minds Technologies raises Rs 500 crore via QIP
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Happiest Minds Technologies
The capital raising committee of the board of directors has approved the issue of 54.11 lakh equity shares of face value of Rs 2 each to qualified investors, the company said in a statement.
New Delhi. Information technology company Happiest Minds Technologies on Tuesday said it has raised Rs 500 crore through qualified institutional placement (QIP) of equity shares. The capital raising committee of the board of directors has approved the issue of 54.11 lakh equity shares of face value of Rs 2 each to qualified investors, the company said in a statement.
The allotment will be done at a price of Rs 924 per share. The company has raised equity capital for the first time after bringing its IPO in 2020. Venkataraman Narayanan, managing director and chief financial officer of Happiest Minds Technologies, said the capital raised will help scale the business in the years to come.
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