Hindustan Construction Company has raised â¹350 crore through the rights issue. According to the companyâs statement, the issue has been oversubscribed by 250 per cent, with the company receiving applications worth â¹877 crore (the balance being refunded to investors).
The equity shares have been allotted to the applicants as per allotment basis. The lead manager for the rights issue was lOBI Capital Markets & Securities Ltd.Â
Arjun Dhawan, Vice Chairman, said, âWe are grateful to our shareholders for their overwhelming support as we chart a new chapter in HCCâs growth.â
The number of shares in HCC has increased by 16,66,66,666, from 151,30,28,244 to 167,96,94,910 and the paid-up share capital has increased from â¹151 crore to â¹168 crore.
HCC stock closed at â¹35.20 on the NSE on Friday, down by 0.28 per cent.
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