Majesco has received an approval for raising of funds not exceeding Rs 250.00 crore by way of issuance of equity shares through Qualified Institutional Placement (QIP), subject to approval of shareholders through Postal Ballot. The board of directors at its meeting held on May 28, 2016 has approved for the same.
The board approved increase in the Foreign Institutional Investors (FII) / Foreign Portfolio Investor (FPI) shareholding limit in the paid up share capital of the company up to 40% of total equity share capital of the company subject to approval of shareholders through Postal Ballot.
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
