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Majesco’s board has given its approval for the company’s plan for raising Rs 250 crore through Qualified Institutional Placement (QIP) route.
The board has also raised the foreign institutional investors (FII) limit in Majesco to 40 percent.
Farid Kazani, Managing Director & Chief Financial Officer of the company has said that the resolution to raise funds is subject to shareholders’ approval. The funds raised will be used towards expansion of both organic and inorganic business.
