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Hindustan Construction Company begins discounted equity fundraise
HCC’s Rs 1,000 crore rights issue opened on December 12, offering eligible shareholders discounted equity at Rs 12.
Attention has turned to Hindustan Construction Company as its Rs 1,000 crore rights issue opens for subscription on December 12. Shareholders holding HCC shares as of the record date, December 4, are eligible to participate. The company plans to issue 79.99 crore equity shares at Rs 12.50 each, reflecting a 34% discount to the previous closing price. The rights issue allows HCC to raise capital through equity without increasing debt, strengthening its balance sheet and funding ongoing business requirements.