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MUMBAI: Engineering major Hindustan Construction Company (HCC) on Saturday said it has raised Rs 480.10 crore through the issue of shares to Qualified Institutions Buyers (QIBs) through private placement.

The board committee has allotted 4.70 crore shares to QIBs by way of Qualified Institutions Placement at an issue price of Rs 102.15 per piece, aggregating to Rs 480.10 crore, HCC said in a filing to the Bombay Stock Exchange (BSE).

After the issue of shares, the paid-up shares capital of the company stands increased to Rs 30.32 crore from earlier Rs 25.63 crore, it added. On Friday, shares of HCC closed at Rs 108.90, up 2 per cent on the BSE. – PTI

QIP: Qualified Institutional Placement

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