Shares of Hindustan Construction Company (HCC) Ltd. surged as much as 10% on Monday, December 22, after its ₹1,000 crore rights issue saw full subscription on the final day of bidding.The rights issue will close for subscription later this evening.
As of 12:30 PM, local time, HCC’s rights issue had received bids for 130 crore shares, compared to the 80 crore shares on offer.
HCC had planned to raise ₹1,000 crore through the rights issue, where it will be issuing shares at ₹12.5 apiece, a significant discount from the current market price.Existing shareholders of HCC will be entitled to 277 rights equity shares for every 630 fully paid-up equity shares held as on the record date.
As of 12:30 PM, local time, HCC’s rights issue had received bids for 130 crore shares, compared to the 80 crore shares on offer.
HCC had planned to raise ₹1,000 crore through the rights issue, where it will be issuing shares at ₹12.5 apiece, a significant discount from the current market price.Existing shareholders of HCC will be entitled to 277 rights equity shares for every 630 fully paid-up equity shares held as on the record date.
Rights issue is generally a fund raising method for a company where it issues shares at a discount to the current price to raise an amount, without increasing the debt burden of the company.
Shares of HCC are currently trading 9% higher at ₹20.22. The stock is down 38% so far in 2025.
