Happiest Minds will issue 12,500 unsecured, negotiable, redeemable, rated, listed NCDs aggregating to Rs 125 crore having tenure of three years from the date of allotment of each tranche.

Meanwhile, in an exchange filing the company said, “The issue of commercial papers in domestic market on private placement basis has been deferred for consideration at an appropriate time.”

Happiest Minds Technologies is a next-generation digital transformation, infrastructure, security and product engineering services company.

The company's net profit decreased 3.8% to Rs 57.58 crore despite of 3.2% in revenues to Rs 366.88 crore in Q3 FY23 over Q2 FY23.

The scrip rose 0.62% to currently trade at Rs 855.40 on the BSE.