 HCL Infosystems raised Rs 472.67 crore from institutional investors through Qualified Institutions Placement (QIP) of equity shares with the issue being launched on 14th Oct 09 and closed on 16th Oct 09. The company allotted 3,05,55,713 equity shares of Rs. 2/- each at a price of Rs. 154.69 per share aggregating to Rs. 472.67 crores on 21st Oct 09 to Qualified Institutional Buyers as per chapter VIII of SEBI (ICDR) regulations 2009.
Furthermore, the company also allotted convertible warrants amounting Rs. 322 crores to promoters at a price of Rs. 152.90 per warrant thereby raising Rs 795 crore in total.
The Company plans to utilize these funds primarily to expand existing businesses, develop infrastructure for future growth, meet working capital requirements and make acquisitions. |