Happiest Minds Technologies gets board approval to raise Rs1,400 crore; stock zooms ~2%

6 Oct 2022 , 09:19 AM

Happiest Minds Technologies’ board of directors authorised an Rs1,400 crore equity or debt bond raise on Wednesday, according to a regulatory filing.

The company’s board of directors has approved raising up to Rs1,400 crore inclusive of premium amount, if any. The funds can be raised via the issuance of any instrument or securities, including equity shares, global depository receipts, American depository receipts, fully/partially convertible debentures, foreign currency convertible bonds, warrants, or any combination thereof.

According to the filing, the company is permitted to obtain funds through a public offering, preferred allocation, private placement, or other means.

At around 9.20 AM, Happiest Minds was trading at Rs1,014.65 per piece, up by 1.76% from its previous closing of Rs997.10 on the BSE. The scrip opened at Rs1,014 and touched intraday high and low of Rs1,020.55 and Rs1,009.75 respectively.

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