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HCL Infosystems To Raise Rs 499 Crore From Its Existing Shareholders By Way Of Rights Issue

Team Republic |

HCL Infosystems today said it will raise Rs 499.09 crore from its existing shareholders by way of rights issue.

The rights issue committee of the board has decided to issue equity share by way of rights issue to eligible shareholders of the company for an amount aggregating to Rs 499.09 crore, HCL Infosystems Ltd said in a BSE filing.

The total number of equity shares to be issued is 10,61,90,299. The company said the rights issue is to be offered at a price of Rs 47, including a premium of Rs 45.

The record date for the purpose of determining the shareholders eligible to apply for the equity shares in the rights issue is November 1, the filing said.

It further said the board has decided that the rights entitlement ratio is fixed at a ratio of 10 rights equity share for every 21 equity share held by eligible shareholders of the company. 

(With Agency Inputs)