HCL Infosystems opens Rs 500 cr QIP issue | business | Hindustan Times
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HCL Infosystems opens Rs 500 cr QIP issue

IT firm HCL Infosystems has opened its Rs 500 crore equity share issue on Wednesday for the qualified institutional buyers (QIBs).

business Updated: Oct 14, 2009 21:04 IST

IT firm HCL Infosystems has opened its Rs 500 crore equity share issue on Wednesday for the qualified institutional buyers (QIBs).

The company’s directors committee has decided to make an issuance of equity shares to QIBs and to open the issue on October 14, HCL Infosystems said in a filing to the Bombay Stock Exchange (BSE).

Under the offer, the company would issue its shares on a qualified institutional placement (QIP) basis.

The committee has also approved the preliminary placement document in respect of the equity shares proposed to be issued as aforesaid, it added.

Shares of HCL Infosystems on Wednesday closed at Rs 160.45, up 2.62 per cent from its previous close on the BSE.