Rajani Associates assists in Hindustan Construction on its ₹600 crore QIP

Ranjani Associates advised Hindustan Construction Company on raising ₹600 crore from a Qualified Institutional Placement (QIP).

Rajani Associates acted as legal counsel to the Lead Manager, Motilal Oswal on this QIP.

The transaction team consisted of Sangeeta Lakhi (Partner) and Rhea Manchanda (Associate).

The QIP, which was fully subscribed within hours of opening, saw strong participation from both global and domestic institutional investors, including prominent names like SBI General Insurance, Citigroup, BNP Paribas, and the Samsung Family Office.

HCC issued shares at a price of ₹43.01 each, raising a total of ₹600 crore. This successful QIP follows a ₹350 crore rights issue earlier in 2024, which was also oversubscribed. HCC plans to utilize the funds raised through the QIP for business growth initiatives, increasing working capital, and reducing debt.

Hindustan Construction Company (HCC) is a major Indian construction and engineering company with a rich history spanning nearly a century. Founded in 1926, HCC has been involved in the construction of numerous landmark projects across India, including roads, bridges, tunnels, dams, power plants, and industrial structures. The company has a strong presence in sectors like transportation, water, energy, and industrial infrastructure. HCC has also diversified into real estate development.

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