Happiest Minds Technologies today announced the successful completion of its capital raise of Rs 500 crore / US $ 61 Mn 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 14 July 2023, approved the allotment of 54,11,255 equity shares of face value Rs 2 to eligible investors at a price Rs 924/ 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