Aditya Infotech up 3%: To raise Rs 1,500 crore; may consider multiple tranches, QIP

IT firm Aditya Infrotech has approved the raising of funds worth Rs 1,500 crore via the issuance of various means of securities. The fundraising may be executed in one or more tranches, and the company’s board has proposed to issue equity shares. Following this announcement, the company’s share price rose nearly 3% in Thursday’s early trade.

The capital may be raised through a public issue or by a way of qualified institutional placement (QIPs), or any other combinations permitted under the law, subject to the approval of shareholders and the related regulatory and statutory approvals.