Majesco Ltd to raise Rs. 250 crores through QIP

The Board of Directors of Majesco Ltd at its meeting held on May 28, 2016, has considered and approved the raising of funds not exceeding Rs. 250.00 Crores by way of issuance of Equity Shares through Qualified Institutional Placement (QIP), subject to approval of shareholders through Postal Ballot.

The Board increased the Foreign Institutional Investors ("FII") / Foreign Portfolio Investor ("FPI") shareholding limit in the paid up share capital of the Company upto 40% of total Equity Share Capital of the Company subject to approval of shareholders through Postal Ballot.

The Board approved the Notice of Postal Ballot.

The Board meeting started at 3.00 P.M. and concluded at 5.15 P.M.

Source : Equity Bulls

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