HCL Infosystems today announced that its board has approved raising of funds to shape the future growth plans of the company. The funds will be raised from issuance of Convertible Warrants not exceeding Rs 325 crore including premium to promoters.
In addition to this equity shares or equity linked securities or a combination thereof will be issued in the domestic and/or international offerings and/or Qualified Institutional Placements (QIP) for a value of up to Rs 500 crore including premium. The company expects to get the approval of the shareholders in an extra ordinary general meeting.
Commenting on the announcement, Sandeep Kanwar, Chief Finance Officer, HCL Infosystems Ltd said, “We intend to raise funds to augment our long term resources for future growth, including investing in expansion of our existing and new businesses, development of infrastructure and possible acquisitions in India or abroad, currently we have not identified or entered into an agreement for any acquisition for which we intend to raise such funds”.
HCL Infosystems is a multi faceted technology company, with specialized verticals addressing different segments of the technology spectrum.
It has built under one roof, a comprehensive range of capabilities, giving it an unique advantage to leverage the new paradigms that are emerging from a converging world. HCL Infosystems over the past few years has focused on transforming itself from being a product centric company to a system integration and services organization.
Over last one year, the company has announced plans to enter into a number of business verticals including 14 System integration domains, software product development and Pan India services infrastructure among others.