India, Dec. 23 -- Hindustan Construction Company Limited (HCC) on Tuesday said its Rs 1,000-crore rights issue received an overwhelming two-fold subscription, attracting applications worth Rs 2,008 crore against an issue size of Rs 999.99 crore.
In a statement, the company said it has retained proceeds equivalent to the issue size, while the excess amount will be refunded to investors in line with applicable regulations.
Commenting on the strong response, Arjun Dhawan, Vice Chairman and Managing Director of HCC, said, "The response to the Rights Issue strengthens our balance sheet while supporting ongoing deleveraging and our long-term growth strategy."
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