India's HFCL rises after launching QIP issue at premium

HFCL

23/12/2025 08:13

** Shares of Indian technology firm HFCL Ltd HFCL.NS rise 4.5% to 66 rupees

** Co launched its qualified institutional placement (QIP) of shares; sets floor price at 65.84 rupees/shr, a ~3% premium to its closing price on Monday

** Premium generally seen as a positive as it suggests that stakeholders expect the stock's market worth to rise, indicating confidence in future prospects

** Co will use proceeds from the issue for purchase of plant and machinery for capacity expansion of optic fibre cables, expenditure towards R&D initiatives, repayment of borrowings and to fund long term working capital requirements

** YTD, HFCL down 40 %

(Reporting by Komal Salecha)

((Komal@thomsonreuters.com;))