Hindustan Construction clarifies on news item regarding real estate biz

With reference to the news item appearing in a leading financial daily titled "HCC to raise Rs 5,000 cr for real estate biz", Hindustan Construction Company Ltd has clarified that Mr. Ajit Gulabchand, Chairman and Managing Director of the Company had clearly Stated to the correspondents that "several options were available to the Company including private equity, FCCB, IPO or debt and that the matter was still under discussion with financial advisors / merchant bankers." In the said news item, he has also been quoted us "Right now, we have all the options before us. We will examine what is best for us and go forward." The figure of Rs 5000 crore offered was just a ballpark number required by the business.

Further, Mr. Gulabchand had categorically informed the correspondents that he was not in a position to disclose the precise details and the instruments that the Company would be looking to for raising kinds.

Source : Equity Bulls

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