HCC’s Rs 1,000-cr rights issue attracts two-fold subscription

New Delhi: Hindustan Construction Company Limited (HCC) on Tuesday said its rights issue received two-fold subscription, drawing applications worth Rs 2,008 crore against an issue size of Rs 999.99 crore.

The company, in a statement, said it has retained proceeds equivalent to the issue size, and the balance amount will be refunded to investors in accordance with applicable regulations.

HCC vice chairman and managing director Arjun Dhawan said, “The response to the Rights Issue strengthens our balance sheet while supporting ongoing deleveraging and our long-term growth strategy”.