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HCL Infosystems to raise Rs. 825 Cr

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CIOL Bureau
New Update

NEW DELHI, INDIA: Indian ICT player HCL Infosystems Ltd announced that its board has approved raising of funds to shape the future growth plans of the company.

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The funds will be raised from issuance of Convertible Warrants not exceeding Rs. 325 crore including premium to promoters.

In addition to this, equity shares or equity linked securities or a combination thereof will be issued in the domestic and/or international offerings and/or Qualified Institutional Placements (QIP) for a value of up to Rs. 500 crore including premium, said a press release.

HCL Infosystems' chief finance officer Sandeep Kanwar said, “We intend to raise funds to augment our long term resources for future growth, including investing in expansion of our existing & new businesses, development of infrastructure and possible acquisitions in India or abroad, currently we have not identified or entered into an agreement for any acquisition for which we intend to raise such funds”.

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