HFCL’s board has approved the issue and allotment of 8,72,72,727 Equity Shares to 21 qualified institutional buyers at the issue price of Rs 68.75 per Equity Share (including a premium of Rs 67.75 per Equity Share), aggregating to around Rs 600 crore pursuant to the issue. The Fund Raising Committee of Directors (Committee) of the company at its meeting held on December 10, 2021, approved the same.
HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL facilities in Chennai and Hosur.
