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Hindustan Construction Co will seek shareholders’ nod for its fund-raising plans in the ensuing Annual General Meeting on July 6. The company will seek shareholders’ approval through an enabling resolution to raise up to ₹1,000 crore through equity and debt in one or multiple tranches. It will also seek shareholders’ approval under the Scheme for Sustainable Structuring of Stressed Assets for restructuring its loan through preferential issue of shares and optionally convertible debentures. Besides, HCC is also seeking investors’ approval to issue some of its lenders up to ₹1.236 crore shares at a price of at least ₹41.61 a share. The company will seek shareholders’ approval to issue some of its lenders 10.7 lakh optionally convertible debentures of face value ₹1,000 each. Shares of Hindustan Construction Co were down 2.3 per cent at ₹42.70 on the BSE.
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