HCL Infosystems raises Rs795 crore

HCL Infosystems raises Rs795 crore

Mumbai: HCL Infosystems Ltd on Monday announced that it has raised Rs794.67 crore through qualified institutional placements (QIP) and convertible warrants.

The company said it has raised at least Rs472.67 crore from institutional investors through a QIP that opened on 14 October and closed on 16 October.The company on October 21 allotted 30 million shares at Rs154.69 each.

It raised an additional Rs322 crore through convertible warrants to promoters at Rs152.90 each. The firm will use the funds raised to “expand existing businesses, develop infrastructure for future growth, meet working capital requirements and make acquisitions", it said in a statement on Monday.

HCL Infosystems’ shares fell 3.07% on Monday on the Bombay Stock Exchange to close at Rs173.90. The benchmark Sensex closed 0.42% lower at 16,740.50 points.