Hindustan Construction Company Limited — Board Meeting, 19-12-2024: Outcome of Board Meeting

Hindustan Construction Company Limited has announced a board meeting to discuss the outcome of its Qualified Institutional Placement (QIP), through which it successfully raised ₹600 crore by allotting 13,950,241 equity shares at an issue price of ₹43.01 per share. The proceeds will be utilized for business growth, augmenting working capital, and deleveraging. The shareholding pattern of the company will be updated post-issue, increasing the paid-up equity share capital to ₹181.94 crore. This follows a previous rights issue earlier in the year, highlighting strong investor confidence in HCC's strategic vision and growth prospects.