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Infrastructure major Hindustan Construction Company (HCC) today announced opening of share sale to qualified institutional investors at a price of Rs 30.98 apiece.
The QIP committee of the board of directors of Hindustan Construction Company at it meeting has decided to open the issue, the company informed BSE in a regulatory filing.
"The floor price in respect of the Issue, based on the pricing formula prescribed under Regulation 85 of the Sebi regulations, is Rs 30.98 per equity share of the company and the relevant date for this purpose ... Is April 6, 2015," the filing said.
The company may offer a discount of up to 5 per cent on the floor price in accordance of Regulation 85 of the Sebi regulations, the filing added.
Shares of HCC were trading at Rs 35.50 apiece, up by 6.29 per cent, at BSE at 1120 hrs.
