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HFCL to Raise Funds Worth INR 750 Crore Through Various Issues

The HFCL board has constituted a fund raising committee, chaired by Managing Director Mahendra Nahata as its chairman.

September 3, 2021

HFCL
HFCL Ltd.

Domestic telecom gear maker HFCL Ltd. has received its board’s consent to raise up to INR 750 crore through equity, bonds, debentures or any other securities.

HFCL is one of the applicants for the production-linked incentive scheme, where the government is offering up to 20 times higher incentives based on investment and incremental production criteria.

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As reported in a leading daily — the Board of the Directors of the company has considered and approved fundraising up to INR 750 crore, by way of private placement or preferential issue of public issue or rights issue or qualified institutional placement or through any other permissible mode.

HFCL is engaged in the manufacturing of high-end transmission and access equipment, optical fibre, and optical fibre cables (OFC). The company is specialized in setting up modern communication networks for telecom service providers, railways, defence, smart city and surveillance projects.

Also Read: Prysmian Group Invests for 5G and Broadband Development in North America.

It has also commissioned a dedicated 5G research and development centre at Bengaluru.