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Raminfo Board Approves Preferential Issuance to Raise Up to ₹62 Crores: Chalks Out Aggressive Growth Plans
Raminfo plans to raise up to ₹62 crores through the preferential issue of shares to fund its projects
Hyderabad: Hyderabad headquartered, Raminfo Limited (BSE - RAMINFO | 530951 | INE357B01022), a well-established e-Governance and Technology Solutions provider with over 29 years of legacy, announced today that its Board of Directors has given the approval for raising funds up to ₹62 crores.
The funds raised are planned to be deployed towards Organization Development, Leadership Expansion, National and International Expansion to diversify revenue composition.
Furthermore, Raminfo Limited aims to meet the growth and future requirements of funds, and investments in its subsidiaries/associates/joint ventures engaged in niche businesses offering technology, IT infrastructure and digital offering platforms.
“This strategic move is geared towards diversifying the service portfolio and expanding geographical reach to improve margin and sustained growth of the company.” Srinath Reddy, Managing Director of Raminfo, stated.
He added that the infusion of funds will further help develop a robust pipeline of orders, augment growth in services and create value for its shareholders and onboard marque shareholders, fortifying the company’s financial strength.
This preferential issue is as per SEBI ICDR Regulations and is subject to shareholders approval.
