Hindustan Construction Co Ltd fixes March 16, 2024 as record date for 1:9 rights issue

The Rights Issue Committee ("Committee") of Hindustan Construction Co Ltd at its meeting held today, i.e. March 12, 2024 has considered and approved the following terms of the Rights Issue:

Instrument: Fully paid-up equity shares of face value of Rs. 1 each ("Equity Shares")

Total number of Equity Shares and Rights Issue size: 16,66,66,666 fully paid-up Equity Shares for an amount aggregating to Rs. 350 Crore.

Rights Issue Price: Rs. 21 per Equity Share (including a premium of Rs. 20 per Equity Share)

Record date: Saturday, March 16, 2024

Rights Issue period:

Rights Issue Opening Date: Tuesday, March 26, 2024;
On-market renunciation period Start: Tuesday, March 26, 2024
On-market renunciation period End: Tuesday, April 02, 2024
Off-market renunciation: It is noted that the eligible equity shareholders will have to ensure that renunciation through off-market transfers are completed in such a manner that the rights entitlements are credited to the demat account of the renouncees on or prior to the Issue closing date
Rights Issue Closing Date: Friday, April 05, 2024.

Outstanding Equity Shares:

Prior to the Rights Issue: 151,30,28,244 Equity Shares;
Post Rights Issue#: 167,96,94,910 Equity Shares.
#Assuming full subscription and payment of call monies.

Rights entitlement ratio: 1 Equity Shares for every 9 fully paid-up equity share of the Company held by the eligible equity shareholders of the Company, as on the record date.

Shares of Hindustan Construction Company Limited was last trading in BSE at Rs. 35.56 as compared to the previous close of Rs. 37.15. The total number of shares traded during the day was 3484589 in over 9221 trades.

The stock hit an intraday high of Rs. 37.79 and intraday low of 35.07. The net turnover during the day was Rs. 125231459.00.

Source : Equity Bulls

Keywords

HindustanConstructionCompany INE549A01026 HCC FundRaising RightsIssue RecordDate