Happiest Minds Technologies advanced 2.11% to Rs 1,018.15 after its board approved raising of funds worth Rs 1,400 crore by way of issuance of any equity or debt instrument or securities in one or more tranches.
The fund raise would be by way of issuance of any instrument or securities, including equity shares, global depository receipts, ADR, fully/partly convertible debentures, foreign currency convertible bonds, warrants, or any combination thereof, in one or more tranches.The company might even opt for a public issue, preferential allotment, private placement (including one or more qualified institutional placements), or through any other permissible mode for fund raise, according to the exchange filing.
This is subject to receipt of necessary approvals including approval of members of the company, regulators, shareholders.
Happiest Minds' Technologies is an IT company, enabling digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
Happiest Minds Technologies' net profit rose 8.1% to Rs 56.34 crore while net sales gained 9.4% to Rs 328.92 crore in Q1 FY23 over Q4 FY22.
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