Hindustan Construction Company Ltd files draft offer letter with SEBI for rights issue

A Meeting of the Board of Directors of the Company (the "Board") was held on August 03, 2023, approving the issuance of fully paid-up equity shares of face value of Rs. 1 each of the Company by way of a rights issue to the existing shareholders of the Company for an amount not exceeding Rs. 300 crores, in accordance with the Companies Act, 2013 and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws ("Issue").

Pursuant to the above referred Board approval, the Company has filed the draft letter of offer dated December 14, 2023 ("DLOF") in connection with the Issue with the Securities and Exchange Board of India.

Shares of Hindustan Construction Company Limited was last trading in BSE at Rs. 32.09 as compared to the previous close of Rs. 32.23. The total number of shares traded during the day was 3591070 in over 3564 trades.

The stock hit an intraday high of Rs. 32.70 and intraday low of 31.77. The net turnover during the day was Rs. 115529008.00.

Source : Equity Bulls

Keywords

HindustanConstructionCompany INE549A01026 HCC FundRaising DraftLetterofOffer RightsIssue SEBI