Cyril Amarchand Mangaldas Advised Hindustan Construction Company Ltd. In ₹350 Cr. Rights Issue Of Equity Share
Cyril Amarchand Mangaldas has provided legal counsel in the recent rights issue of equity shares of Hindustan Construction
Cyril Amarchand Mangaldas Advised Hindustan Construction Company Ltd. In ₹350 Cr. Rights Issue Of Equity Share
Cyril Amarchand Mangaldas has provided legal counsel in the recent rights issue of equity shares of Hindustan Construction Company Limited (HCC), amounting to ₹350 crores. This initiative witnessed an overwhelming response, with HCC's rights issue being oversubscribed by an impressive 250 percent. The company received applications worth ₹877 crores, surpassing the initial issue size of ₹350 crores.
Through this rights issue, HCC has significantly increased its number of shares by 16,66,66,666, from 1,51,30,28,244 to 1,67,96,94,910. Additionally, the paid-up share capital has seen a substantial rise of ₹17 crores, escalating from ₹151 crores to ₹168 crores.
IDBI Capital Markets & Securities Ltd. acted as the lead manager for the rights issue.
The capital markets team at Cyril Amarchand Mangaldas, Spearheaded by Abhinav Kumar and Supported by Amitpal Singh, Shubham Sancheti, Sanjana Ravjiani, Shreya Jain, Alok Agrawal, Lajja Mehta, and Zeb Burk, played a crucial role in ensuring the success of the rights issue.
The Finance Team, Led by Santosh Janakiram and Meeta Kurpad, with Assistance from Varun Singh, Provided Invaluable Support throughout the process.