HFCL board approves raising Rs 650 crores

The Board of HFCL at its meeting held on 02 September 2022 has approved the following: 1. Issuance up to One crore Warrants convertible into 1,00,00,000 equity shares at a the Board of HFCL at its meeting held on 02 September 2022 has approved the following: Issuance up to One crore Warrants convertible into 1,00,00,000 equity shares at a price of Rs. 80/- per equity share aggregating to Rs. 80 crores to one of the Promoter. Issuance up to 41,00,000 warrants convertible into 41,00,000 equity shares at a price of Rs.80/- per equity share aggregating to Rs.32.80 crore to the persons belonging Non-Promoter category being senior leadership team.

Raising of funds upto Rs.650 crore by way of private placement or preferential issue or public issue or rights issue or qualified institutions placement or through any other permissible mode and/or combination thereof, including by way of issue of equity shares/ preference shares/ bonds/ debentures/ non-convertible debt instruments/ any other securities, subject to approval of the shareholders in the ensuing annual general meeting and other regulatory/ governmental authorities, as may be required. CapitalMarket