HCL Infosystems raises upto Rs 795 crores

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HCL Infosystems raises upto Rs 795 crores

HCL Infosystems Ltd, one of India’s premier hardware, services and ICT system Integration companies announced that it has raised Rs 472.67 crores from institutional investors through Qualified Institutions Placement (QIP) of equity shares.

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HCL Infosystems Ltd, one of India's premier hardware, services and ICT system Integration companies announced that it has raised Rs. 472.67 crores from institutional investors through Qualified Institutions Placement (QIP) of equity shares. The issue was launched on 14^th Oct 09 and closed on 16^th 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 21^st Oct 09 to Qualified Institutional Buyers as per chapter VIII of SEBI (ICDR) regulations 2009. The company also allotted convertible warrants amounting Rs. 322 crores to promoters at a price of Rs. 152.90 per warrant.  

The Company had earlier announced that the board of directors has approved raising of funds to shape the future growth plans of the company. The Company plans to utilize these funds primarily to expand existing businesses, develop infrastructure for future growth, meet working capital requirements and make acquisitions.

HCL Infosystems Ltd. is a multi faceted technology company, with specialized verticals addressing different segments of the technology spectrum.  It has built under one roof, a comprehensive range of capabilities, giving it an advantage to leverage the new paradigms that are emerging from a converging world. HCL Infosystems Ltd. over the past few years has focused on transforming itself from being a product centric company to a system integration and services organization. Over the last few years the company has announced plans to enter into a number of business verticals including System integration domains, IT infrastructure management and other services across India.