Hindustan Construction Company Ltd (HCC) has successfully raised ₹600 crore through a Qualified Institutional Placement (QIP) that wrapped up on December 19, 2024. Launched on December 16, the offering saw a good response, with investors taking up shares within just a few hours.
As part of the QIP, HCC issued 13.95 crore equity shares at ₹43.01 each, including a premium of ₹42.01. This price was 5% lower than the floor price of ₹45.27. Post this issuance, HCC’s total paid-up equity share capital now stands at ₹181.94 crore, spread across 181.93 crore shares.
The QIP drew a mix of top-tier global and domestic investors with a focus on long-term growth. Here’s a breakdown of the major participants:
This diverse group of investors shows institutional interest.
The ₹600 crore raised will go towards driving business growth, boosting working capital, and trimming debt. This fundraising follows HCC’s rights issue in April 2024, which brought in ₹350 crore and was oversubscribed 2.5 times.
HCC’s shares have been making steady gains, rising 23% in the last month and edging closer to their 52-week high of ₹57.5. However, Hindustan Construction’s shares traded at ₹43.34, down 1.61% today at 1 PM, while showing a year-to-date gain of 55.96%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 20, 2024, 2:53 PM IST
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