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Hindustan Construction Company Ltd. has provided an update on the utilization of funds from its recent QIP issue of ₹600 crore. As of December 31, 2024, the Audit Committee reviewed the Statement of Deviation in fund utilization, confirming no significant deviations from the stated objectives. Specifically, ₹390 crore was slated for debt repayment, while ₹150 crore was aimed at augmenting working capital, with minor variations totaling ₹2.57 crore. This transparency underscores the company's adherence to its funding strategy, which could bolster investor confidence and suggest a focused approach to financial management amidst market conditions.
All announcements from Hindustan Construction Company Limited