Hindustan Construction Company (HCC) has raised $200 million from the overseas markets.According to a release issued by HCC to the BSE today, the company entered into a subscription agreement with JP Morgan Securities and UBS AG, acting through its business group UBS Investment Bank, the joint lead managers and joint book runners, for the issues yesterday.The company has issued 1,000 FCCBs of $100,000 each to raise $100 million. "The FCCBs are convertible into equity shares or global depository shares (GDSs) at Rs 248.0877 per equity share representing a premium of 50% to the GDS price (Rs 165.3918 per GDS)," the release added.The company has also issued 26,954,200 GDSs of $3.71 each to raise $100 million. "The issue price - Rs 165.3918 per equity share - represents a discount of approximately 6% to the closing price of the equity share on March 28, 2006," the release added.
