Happiest Minds rises Rs500 cr via QIP

New Delhi: IT company Happiest Minds Technologies on Tuesday said it has raised capital to the tune of Rs500 crore through Qualified Institutional Placement (QIP) of equity shares. The fund-raising committee of the Board of Directors approved the allotment of 54.11 lakh equity shares of face value Rs 2 to eligible investors at a price Rs 924 per share (including premium of Rs 922 per equity share), the company said in a release. This was the first-ever equity capital raise by the company after its successful IPO in 2020, it said, adding that the capital raise garnered a strong response from institutional investors. “Happiest Minds Technologies successfully completes a capital raise of Rs 500 crores/USD 61 million through a Qualified Institutions Placement (QIP),” the company said.