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Hindustan Construction Company launched a ₹400-crore QIP with a floor price of ₹45.27/share, discounted at ₹43.01/share for investors. Funds will address operational needs and debt repayment.
Hindustan Construction Company (HCC) has initiated its Qualified Institutional Placement (QIP) to raise ₹400 crore, with an option to extend to ₹600 crore. The board has set a floor price of ₹45.27 per share for the issue, aligning with SEBI guidelines. However, the issue price is fixed at ₹43.01 per share, representing a discount of 8.4% to the current market price and 5% to the SEBI-mandated floor price.
Also read: Gravita India Launches ₹750-Crore QIP at ₹2,206.49/Share Floor Price
QIP Details: ₹400 crore base size, extendable to ₹600 crore.
Pricing: Floor price at ₹45.27/share; issue price at ₹43.01/share.
Objective: Fund ongoing projects and repay debt.
Also read: ADIA to Divest ₹1,903-Crore Stake in Mindspace REIT at ₹350/Share
Hindustan Construction Company share price closed at ₹46.95 on Monday, rising 1.91% post-market announcement. The discounted pricing aims to attract institutional investors, which could potentially enhance market liquidity and investor interest.
The QIP proceeds will address:
Operational Needs: Financing ongoing infrastructure projects.
Debt Repayment: Strengthening the company’s financial stability.
Metric | Details |
QIP Floor Price | ₹45.27/share |
Issue Price | ₹43.01/share |
Discount to CMP | 8.4% |
Target Amount | ₹400-600 crore |
Hindustan Construction Company Share Price (CMP) | ₹46.95 (BSE close) |
The launch of HCC's ₹400-crore QIP demonstrates its focus on bolstering financial resilience and supporting infrastructure projects. With discounted pricing and a targeted utilisation of funds, this initiative is poised to strengthen the company’s operational and market position.
Also read: Mankind Pharma Launches ₹3,000-Crore QIP to Fund BSV Acquisition
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