HFCL bags deals worth Rs 97 crore from leading telco

Homegrown telecom gear maker HFCL said the company and its subsidiary HTL Limited received purchase orders amounting to about Rs 97 crores from a leading Indian telecom operator for the supply of optical fibre cables.

The order will be executed by March 2023, according to a regulatory filing by HFCL.

“We are pleased to inform all the stakeholders that the Company, along with its material subsidiary, HTL Limited, has received the Purchase Orders (“PO”) aggregating to -Rs.97 Crores, from one of the leading Private Telecom Operators of the Country for supply of Optical Fibre Cables (“OFC”),” the company said.

The company’s board will inter-alia consider proposals on September 2 for fundraising by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments, among others, according to a separate regulatory filing on Tuesday.

HFCL in December 2021 raised Rs 600 crores via a Qualified Institutional Placement (QIP) issue which it had said would be utilized towards funding Capex for setting up new manufacturing facilities, capacity expansions, and expenditure on R&D and product development. Equity Bulls