HCC rights issue committee to determine issue price

Hindustan Construction Company (HCC) Monday announced that rights issue committee will this month discuss various matters, including determination of the issue price.

HCC had earlier announced that it will raise up to Rs 500 crore through rights issue.

"This is to inform you that a meeting of the Rights lssue Committee will be held on November 12, 2018, to discuss various matters in relation to the issue, including determination of the issue price for issuance of the equity shares to be offered in the issue," the company said in a filing to the BSE.

This, it said, is further to the meeting of the board of directors of the company held in september, "approving the issue of equity shares of the company of face value Rs 1 each (equity shares) by way of a rights issue to the existing shareholders of the company as on the record date for an amount not exceeding Rs 500 crore," the filing said.