The company's shares, having face value of Rs 2, were subscribed on a premium of Rs 398 by foreign and domestic institutional investors, HSIL said in a statement today.
It further said the expression of interest received was more than two times of the proposed issue.
HSIL Ltd Joint Managing Director Sandip Somany said: "The company has yet again demonstrated its robust financial performance and its focused approach towards managing equity. The funds will be used for repaying the debt which will result in reduction of interest cost with immediate effect."
Investors including HDFC Mutual Fund, Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Bajaj Allianz Life Insurance, Prince Street (India) Fund, Reliance Mutual Fund participated in the process, it said.
HSIL has two business divisions - building products and packaging products. Its products are available under brand names Hindware Italian Collection, Hindware Art, Hindware, Amore, Vents and Benelave.
The company also sells glass and PET bottles through its container glass division.