3i Infotech closes bidding for Rs 182 cr QIP issue

Banking and financial solutions provider 3i Infotech today announced closure of bidding for raising Rs 182 crore through qualified institutional placement.

The duly authorised committee of the board of directors took a decision to this effect at its meeting held today, 3i Infotech said in a filing to the Bombay Stock Exchange (BSE).

The company had fixed a floor price of Rs 76.60 per equity share of Rs 10 each for the aforesaid QIP as per the pricing formula prescribed under the Sebi rules on preferential basis.

Bidding for the QIP issue was opened on March 30 after the meeting of the committee, it said.

The company has submitted a copy of the resolution to the BSE, it added.

3i Infotech's portfolio of offerings comprises software products, technology services and transaction services.

A majority of these solutions are for the banking, financial services and insurance industry segments and also for the government sector.

Shares of the company closed at Rs 77.60, down 1.46 per cent from the previous close on the BSE.