Happiest Minds Technologies to Raise ₹1,400 crores from Equity Debt

Happiest Minds Technologies Limited

Happiest Minds Technologies Limited, listed on NSE as HAPPSTMNDS, headquartered in Bengaluru, on Wednesday received the nod from its board for raising up to ₹ 1,400 crores through debt bonds or equity, as mentioned in the regulatory filing.

“We wish to inform you that the board at its meeting held today i.e., October 5, 2022, has inter alia considered and approved the matter related to raising funds,” the filing said.

The company board has approved “raising of up to ₹ 1,400 crores inclusive of premium amount, if any” by way of issuance of any instrument or securities, including American depository receipts, fully/partly convertible debentures, equity shares, warrants, global depository receipts, foreign currency convertible bonds, or any combinations thereof.

The IT solutions company reported about 57 percent increase in consolidated net profit at ₹ 53.34 crores in the first quarter ended June 30, 2022. The consolidated revenue from operations surged by 34.46 percent to ₹ 328.92 crores during the reported quarter.

Happiest Minds enables digital transformation services for organizations and technology providers by delivering seamless customer experiences, business efficiency, and actionable insights.