Raises Rs 497.58 crore
Hindustan Construction Company announced that it received applications worth Rs. 551.38 crore pursuant to its Rights lssue of equity shares. Valid applications were received for 110.74% of the aggregate issue of up to 49,75,76,833 equity shares of face value of Re.1 each ("Equity Shares") at an lssue Price of Rs.10 per Equity Share.The Company will retain an amount of Rs.497.58 crore, with the balance being refunded to investors. The allotment of Equity Shares was approved by the Company's Rights lssue Board Committee at a meeting held on 27 December 2018, as per the basis of allotment finalized with the designated stock exchange, BSE.
Upon completion of the Rights Issue, the paid-up share capital of the Company stands enhanced to Rs.151.30 crore from Rs.101.55 crore and the promoter 1 promoter group shareholding in the Company has increased to 33.12% from 27.80%.
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