The board of directors of Raminfo Limited, an e-governance and technology solutions company, has approved a proposal to raise ₹62 crore through a preferential issue.

The 29-year-old company said the proceeds would go towards organisational development, leadership expansion, domestic and international expansion to diversify revenue composition.

“We would like to meet the growth and future requirements of funds, investments in subsidiaries, associates and joint ventures engaged in niche businesses offering technology, IT infrastructure and digital platforms,” the company said in a statement on Thursday.

“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, said. 

He added that the infusion of funds will further help develop a robust pipeline of orders, augment growth in services, create value for shareholders, and onboard marquee shareholders, fortifying the company’s financial strength.