Hindustan Construction Company (HCC) Limited received applications worth Rs. 551.38 crore pursuant to its Rights Issue 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 (\u201cEquity Shares\u201d) at an Issue Price of Rs.10 per Equity Share.<\/p>\n
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\u2019s Rights Issue Board Committee at a meeting held today, as per the basis of allotment finalized with the designated stock exchange, BSE Limited.<\/p>\n
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 \/ promoter group shareholding in the Company has increased to 33.12% from 27.80%.<\/p>\n
Arjun Dhawan, Director & Group Chief Executive Officer, said, \u201cWe express our gratitude to shareholders for their support in ensuring a successful Rights Issue. HCC remains firmly on the path of strengthening its financial profile and we have completed another milestone in this process.\u201d<\/p>\n
This public announcement does not constitute an offer of Equity Shares for sale or the solicitation of any offer to buy Equity Shares in any jurisdiction, including the United States. The Equity Shares described in this public announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the “US Securities Act”), or an exemption there from. The Equity Shares have not been and will not be registered under the US Securities Act or any state securities laws in the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in accordance with any United States state securities laws.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hindustan Construction Company (HCC) Limited received applications worth Rs. 551.38 crore pursuant to its Rights Issue 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 (\u201cEquity Shares\u201d) at an Issue Price of Rs.10 per Equity Share. The Company will […]<\/p>\n","protected":false},"author":3,"featured_media":3220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[2971,2970,2969],"class_list":["post-3219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-bse-limited","tag-paid-up-share-capital","tag-rights-issue-of-equity-shares"],"aioseo_notices":[],"yoast_head":"\n