Stock Report

HCC Rights Issue oversubscribed 2.5x

Posted On : 2024-04-21 15:59:55( TIMEZONE : IST )

HCC Rights Issue oversubscribed 2.5x

Hindustan Construction Company Limited's (HCC's) Rights Issue has been oversubscribed by 250%, with the company receiving applications worth Rs. 877 crore pursuant to its Rights Issue as against an Issue Size of Rs. 350 crore.

The Company has retained an amount of Rs. 350 crore, corresponding to 100 per cent of the Rights Issue size, with the balance being refunded to investors. Equity Shares have been allotted to the applicants as per the basis of allotment finalized with the designated Stock Exchange i.e. BSE Limited.

Mr. Arjun Dhawan, Vice Chairman, said, "We are grateful to our shareholders for their overwhelming support as we chart a new chapter in HCC's growth."

Through the Rights Issue, the number of shares in HCC has increased by 16,66,66,666, from 151,30,28,244 to 167,96,94,910 and the Paid-up Share Capital has increased by Rs. 17 crore, from Rs. 151 crore to Rs. 168 crore.

The Lead Manager for the Rights Issue was IDBI Capital Markets & Securities Ltd.

Shares of Hindustan Construction Company Limited was last trading in BSE at Rs. 35.30 as compared to the previous close of Rs. 35.34. The total number of shares traded during the day was 1551718 in over 4717 trades.

The stock hit an intraday high of Rs. 36.17 and intraday low of 34.30. The net turnover during the day was Rs. 54376273.00.

Source : Equity Bulls


HindustanConstructionCompany INE549A01026 HCC FundRaising RightsIssue Oversubscription