Hindustan Construction Company today said it will raise over Rs 480 crore through private placement of shares to institutional investors at Rs 102.15 a piece.
The Committee of Directors has approved the issuance of up to 4.70 crore shares to qualified institutional buyers at a price of Rs 102.15 a piece, aggregating to over Rs 480.10 crore, HCC said in a filing to the Bombay Stock Exchange.
The realty firm had initiated the qualified institutional placement (QIP) at a rate of Rs 102.15 a piece on Monday.
Last week, the shareholders had approved raising Rs 1,500 crore through issuance of securities in the domestic and international market or through QIP.
Shares of HCC were trading at Rs 102.35 on BSE, down 1.21 per cent over the previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app