HCC to raise Rs 350 crore via rights issue

Hindustan Construction Company (HCC) on Saturday said its panel has approved raising Rs 350 crore through a rights issue.

The rights issue committee approved the allotment of 166,666,666 equity shares at a price of Rs 21 each, the civil construction firm said in a filing to the BSE.

Accordingly, pursuant to the allotment, the paid-up equity share capital of the company has increased to 167,96,94,910 from 151,30,28,244 equity shares, it said.

Hindustan Construction Company (HCC) is into engineering and construction space and serves the infrastructure sectors of transportation, power, and water.