63SATS Cybertech, Subsidiary of 63 Moons Technologies, Raises Rs 650.5 Crore Through Equity Private Placement

Image Source : 63sats.com

63SATS Cybertech Limited, a subsidiary of 63 Moons Technologies, successfully raised Rs 650.5 crore via a private placement by issuing 18 crore equity shares at Rs 10 each, including a premium. This strategic capital infusion strengthens 63 Moons’ focus on cybersecurity, Web3, and emerging technologies for future growth.

63SATS Cybertech Raises Rs 650.5 Crore in Major Fundraise

In a key financial milestone, 63SATS Cybertech Limited, the cybersecurity subsidiary of 63 Moons Technologies Limited, has secured Rs 650.5 crore through a private placement of 18 crore equity shares priced at Rs 10 apiece. This capital infusion underlines the strong investor confidence in 63SATS Cybertech’s growing footprint in cybersecurity and emerging technology solutions.

63 Moons holds partly-paid Zero Coupon Unsecured Optionally Fully Convertible Debentures (ZOFCDs) worth Rs 60 crore, which on conversion will raise the parent company’s shareholding significantly, ensuring strategic control and alignment with its long-term vision.

Important Points

The company issued shares at a face value of Re 1 with a premium of Rs 9, amounting to Rs 180 crore in equity placement; total fundraising including other instruments is Rs 650.5 crore.

This funding will support expansion of 63SATS Cybertech’s product portfolio and infrastructure across cybersecurity, Web3, and LegalTech domains.

63 Moons continues to maintain management control despite subsidiary status changes with evolving shareholding structures.

The investment and strategic focus align with 63 Moons’ shift towards next-gen technologies including military-grade cyber defense and AI-driven legal solutions.

This capital raise is part of broader efforts by 63 Moons to optimize operations post its One-Time Settlement Scheme closure and streamline its tech ecosystem.

Major Takeaways

The sizeable fundraise equips 63SATS Cybertech to accelerate innovation in cybersecurity and digital infrastructure sectors critical to a growing digital economy.

Backing from parent company 63 Moons reinforces financial stability and governance continuity.

Investors view this private placement as a positive confidence signal amidst a rapidly evolving tech landscape.

The move strengthens 63 Moons’ footprint in emerging tech markets, signaling a pivot to future-ready business models.

This equity infusion marks a strategic leap for both 63SATS Cybertech and 63 Moons Technologies, underpinning their mission to remain at the forefront of India’s technology transformation.

Sources: ScanX Trade, Moneycontrol, Marketscreener, Business Standard.