Happiest Minds Technologies has successfully completed its capital raise of Rs 500 crore/$61 million through a Qualified Institutions Placement (QIP) of equity shares. The Fund-Raising Committee of the Board of Directors of the Company, at its meeting held on July 14, 2023, approved the allotment of 54,11,255 equity shares of face value Rs 2 to eligible investors at a price Rs 924 per share (including a premium of Rs 922 per equity share).
This was the first-ever equity capital raise by the Company after its successful IPO in 2020. The capital raise garnered a strong response from institutional investors. The proceeds of the Issue will predominantly be utilized for funding working capital requirements, investments in subsidiaries, funding inorganic growth and other general corporate purposes.
Happiest Minds Technologies is a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
