MPS, a global leader in publishing services, has successfully closed its Qualified Institutions Placement (QIP) of equity shares to raise Rs 150 crore. The QIP saw participation from four mutual fund houses including one of the largest domestic mutual funds and FIIs.
Promoter shareholding post QIP is now 67.8% as compared to 75.0% on December 31, 2014. The proceeds will be used by the company for selective strategic acquisitions that will help it to expand scope of services, add new customers, and enter new geographies.
MPS is engaged in the business of providing content creation, production, transformation, and technology services to global academic and educational publishers.
