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HCL's QIP of ₹ 500 crores fully subscribed

By IndianMandarins- 15 Apr 2021
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Kolkata (15.04.2021): Hindustan Copper Limited's (HCL) Qualified Institutional Placement QIP of ₹500, launched on April 7 and closed on April 12, 2021, was fully subscribed by Mutual funds, Insurance companies, Banks, and Foreign Institutional Investors.

This being the first-ever QIP by a PSU, HCL's success may encourage other PSUs to opt for the QIP route.

HCL is the lone copper mining and copper producing company in the country. It plans to expand its current ore production levels from 3.97 million tonnes per annum to 12.2 million tonnes per annum in phase-I (under implementation) through expansion of existing mines, reopening of closed mines, and opening of new mines.

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