The media had reports on February 10, 2007 that Hindustan Construction Co. Ltd is planning to raise Rs. 5,000 crores for investing in its real estate arm - HCC Real Estate Ltd.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Hindustan Construction Co. Ltd. has vide its letter inter-alia stated, "In response to queries pertainig to investment in real estate business, Mr. Ajit Gulabchand, Chairman and Managing Director of the company had stated that several options were available to the company including private equity, FCCB, IPO or debt and that the matter was still under discussion with financial advisors / merchant bankers. The figure of Rs. 5,000 crores offered was just a ballpark number required by the business." -- www.nseindia.com
Stay in touch with HULIQ NEWS on Twitter @HULIQ
Comments
Post new comment