Hindustan Construction Company Ltd approves QIP price as Rs. 30

The QIP Committee (the "Committee") of the Board of Directors of Hindustan Construction Company Ltd at its meeting held on April 10, 2015, has decided to issue and allot on April 10, 2015, 133,332,800 equity shares of face value of Rs. 1 each ("Equity Shares") at a price of Rs. 30 per Equity Share (including a premium of Rs. 29 per Equity Shares), aggregating to Rs. 399,99,84,000/- (Rupees Three Hundred Ninety Nine Crore Ninety Nine Lacs and Eighty Four Thousand Only) in accordance with Section 42 of the Companies Act, 2013 (including the rules made thereunder) and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

Shares of HINDUSTAN CONSTRUCTION CO.LTD. was last trading in BSE at Rs.34.1 as compared to the previous close of Rs. 34.3. The total number of shares traded during the day was 1269748 in over 5768 trades.

The stock hit an intraday high of Rs. 34.8 and intraday low of 34. The net turnover during the day was Rs. 43593410.

Source : Equity Bulls

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