Hindustan Construction Company (HCC) Raises ₹600 Crore Through Successful QIP – mediahousepress

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Hindustan Construction Company Ltd. (HCC) successfully concluded its Qualified Institutional Placement (QIP) on Thursday, December 19, raising ₹600 crore. The company issued 13.95 crore shares to eligible institutional bidders at a price of ₹43.01 per share, which is a 5% discount to the floor price of ₹45.27 per share.

HCC launched the QIP on December 16 to sell shares to qualified institutional investors. A significant portion of the QIP shares was allocated to prominent foreign investors, with the following major stakeholders:

  • SBI General Insurance – 12.50%
  • Societe Generale – ODI – 11.00%
  • Citigroup Global Markets (Various Schemes) – 7.67%
  • Leading Light Fund VCC – The Triumph Fund – 5.00%

These four funds were allocated more than 5% of the total shares reserved for the QIP.

As a result of this exercise, HCC’s total paid-up equity share capital has increased to ₹181.94 crore, comprising of 181.93 crore shares.

The company’s stock has seen a strong upward trajectory, rising 23% in the past month, approaching its 52-week high of ₹57.5. Despite a 1.6% dip on Thursday, the stock has surged by 58% in 2024, reflecting investor confidence.



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