Hindustan Construction Company (HCC) has raised funds worth Rs 497.60 crore through a rights issue. The issue was oversubscribed with HCC getting applications worth Rs 551.38 crore for sale through which it would issue up to 49.75 crore equity shares.
With this the paid-up equity capital of the company will go up Rs 151.30 crore from Rs 101.55 crore while the promoters’ shareholding will increase to 33.12% from 27.80% now.
HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.