Mphasis has received approval for investment in the equity share capital of Mphasis Europe BV, a wholly owned subsidiary of the Company, up to $80 million, in addition to extending Corporate Guarantee upto $150 million. This investment will enable Mphasis Europe BV inter alia in repayment of borrowings. The investment will be made by end of June 2024.
Besides, the company has received approval for investment in common stock of Mphasis Corporation, a wholly owned subsidiary of the company, up to $70 million. This investment will enable Mphasis Corporation inter alia in repayment of borrowings. The investment will be made by end of December 2024.
The Board of Directors of the Company, at their meeting held on April 25, 2024 have considered and approved the same.
Mphasis is a global service provider, delivering technology-based solutions across many sectors.
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