The ₹1,000 crore rights issue of Hindustan Construction Company Ltd. (HCC) will open for subscription on Friday, December 12.

Since the record date for the rights issue, which was last Friday, December 5, the stock has declined nearly 14%.

HCC's board intends to issue 79.99 crore rights equity shares, which will be used to raise the ₹1,000 crore.'

Price of the rights issue is ₹12.5 per share, which is a 34% discount to HCC's closing price on Thursday.

Rights issue is generally a fund raising method for a company where it issues shares at a discount to the current price to raise an amount, without increasing the debt burden of the company.

Eligible shareholders of HCC will be entitled to 277 rights equity shares for every 630 fully paid-up equity shares held as on the record date.

Tho

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