HCL Infosystems to raise Rs 500 cr via rights issue

Board members approved the proposal in a meeting held on Aug 29

The information technology (IT) services and distribution services arm of the HCL Enterprise- HCL Infosystems- said the company's board has approved a plan to raise up to Rs 500 crore from its existing shareholders.

"HCL Infosystems' Board had, in an August 29 meeting, considered and approved the recommendations of its capital raising committee to go for a rights issue of shares to existing shareholders of the company as a mode of raising equity capital aggregating up to Rs 500 crores," said the company in a note to the Bombay Stock Exchange (BSE).

With the announcement, the company's stock price gained 1.7 per cent or Rs 0.8