Hindustan Construction Company (HCC), India’s leading infrastructure company, has decided to raise long term funds by way of issuance of Equity Shares through Qualified Institutions Placement (QIP Issue) for an amount up to Rs 750 crore to repay debt. The company has already received its board approval at its meeting held on July 31, 2014.
Recently, the company had reported 40.93% growth in Q1FY15 net profit of Rs 27.10 crore as against Rs 19.23 crore in the corresponding quarter of the previous year.
HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.