Financial Tech to raise $100 mn via GDR issue

Financial Technologies India plans to raise upto $100 million through Global Depository Receipts (GDR) to fund global mergers and acquisitions.

It will tap M&A opportunities in exchanges space as well as technology. The funds will also be used for organic and inorganic growth in domain centric business, the company informed stock exchanges.

The overseas issue will consist $100 million of regular offer plus green shoe option of $15 million. However, the company did not specify the timing for the proposed GDR issue.