Hindustan Construction opens share sale to QIPs
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07 Apr 2015
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Country’s leading infrastructure firm Hindustan Construction Company (HCC) on Tuesday announced the opening of share sale to qualified institutional investors (QIPs) at a price of Rs 30.98 per equity share. The QIP committee of the board of directors of Hindustan Construction Company at its meeting hels on April 6, 2015 has decided to open the issue, the company said in a statement. The floor price in respect of the Issue, based on the pricing formula prescribed under Regulation 85 of the Sebi regulations is Rs 30.98 per equity share of the company and the relevant date for this purpose is April 6, 2015, HCC informed in a filing to the Bombay Stock Exchange on April 07, 2015. Adding to it, the company may offer a discount of not more than 5 per cent on the floor price in terms of Regulation 85 of the Sebi regulations, it added. Meanwhile, shares of HCC were trading at Rs 36.15 apiece, up 8.23 per cent, from previous close on BSE at 13:41 hours. |
| Source: Dion Global Type: IPO Related |
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