Hindustan Construction Company (HCC) informed that its board has approved the opening of issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 45.27 per equity share.
The company's board authorized and declared the opening of the issue on Monday, 16 December 2024.The floor price of Rs 45.27 is at a discount of 3.58% to the scrips previous closing price of Rs 46.95 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue.
HCC is a global infrastructure development and construction company committed to building sustainable and responsible projects. With a century-long legacy in engineering, HCC has played a pivotal role in India's infrastructure development, contributing to a significant portion of the nation's hydropower, nuclear power, expressway, highway, unneling, and bridge networks.
The companys consolidated net profit stood at Rs 63.93 crore in Q2 FY25 as against net loss of Rs 2.80 crore in Q2 FY24. Net sales declined 23.2% YoY to Rs 1,406.91 crore in September 2024 quarter.
The scrip slipped 3.13% to currently trade at Rs 45.48 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
 "Stock Market, Market, Crash, Funds, up, Stock, Gain, Lost, decline, statistic, Crisis, Capital, BSE, NSE")
 "SBI Clerk 2024")
 "Deloitte")
 "India vs Australia live score updates 3rd Test day 4")
 "India china")
