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Mindtree gets nod to raise $1 bn; may sell property

Mindtree gets nod to raise $1 bn; may sell property

Mid-sized IT firm Mindtree is all set to raise up to $1 billion (about Rs 6,000 crore) after receiving nod from shareholders.

(Picture for representation only) (Picture for representation only)

Mid-sized IT firm Mindtree is all set to raise up to $1 billion (about Rs 6,000 crore) after receiving nod from shareholders.

Shareholders have also authorised the company's Board to sell, lease or mortgage movable as well as immovable properties.

These proposals were approved by the shareholders through a postal ballot, according to a regulatory filing made by the company on Thursday.

Mindtree has received the go-ahead from shareholders to "borrow up to $1 billion" and to issue "bonus shares".

Besides, the company has been authorised to "sell, lease, mortgage or otherwise dispose off the whole or substantially the whole of the undertaking(s), the moveable and immoveable properties of the company, both present and future."

As per the filing, Mindtree has also got the nod from shareholders to increase its authorised share capital.

Shares of the company on Thursday closed 3.67 per cent up at Rs 860.80 apiece on the BSE.

Published on: Jun 20, 2014, 9:27 AM IST
Posted by: Navneeta N, Jun 20, 2014, 9:27 AM IST