Happiest Minds rises as board approves Rs 1,400 cr fundraiser

Happiest Minds Technologies advanced 2.11% to Rs 1,018.15 after its board approved a fundraising worth Rs 1,400 crore through the issuance of any equity instrument equity or debt or securities in one or more tranches.

Fundraising would be through the issuance of any instrument or security, including shares, global certificates of deposit, ADRs, fully/partially convertible debentures, foreign currency convertible bonds, warrants or any combination of these, in one or more slices.

The company could even opt for a public offering, a preferential allotment, a private placement (including one or more qualified institutional placements) or any other authorized method of fundraising, depending on the exchange file.

This is subject to receipt of necessary approvals, including approval from members of the company, regulators and shareholders.

Happiest Minds’ Technologies is an IT company that enables digital transformation for businesses and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.

Happiest Minds Technologies’ net profit increased by 8.1% to Rs 56.34 crore while net sales increased by 9.4% to Rs 328.92 crore in the first quarter of FY23 compared to the fourth quarter of FY22.

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