HCL Infosystems to raise funds

MUMBAI, INDIA: HCL Infosystems announced the plan to raise funds to shape the future growth plans of the company. 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. The company expects to get the approval of the shareholders in a meeting.

Commenting on the announcement Sandeep Kanwar, Chief Finance Officer, HCL Infosystems said, “We intend to raise funds to augment our long term resources for future growth, including investing in expansion of our existing and 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.”