HCC to raise $100 mn from overseas

HCC will raise $100 mn from overseas markets through the issue of GDRs or other financial instruments convertible into equity shares.

Mumbai, Mar 10 (PTI) Hindustan Construction Company Ltd (HCC) will raise 100 million dollar from overseas markets through the issue of Global Depository Receipts (GDRs) or other financial instruments convertible into equity shares in one or more tranches.

HT Image

Hindustan Construction, would issue Foreign Crrency Convertible Bonds (FCCBs), Secured Premium Notes (SPNs) or equity shares through depository receipt mechanism such as GDRs, the company informed the Bombay Stock Exchange.

The issue will be in addition to $150 million which the shareholders had earlier approved of, it added.