Three FIIs jointly acquire 2.64% stake in telecom equipment maker HFCL

Three international institutional investors–Vanguard, Quant Mutual Fund and Norges–have acquired collectively acquired two.sixty four per cent in telecom gear makers HFCL Ltd.

While Vanguard acquired one.86 per cent via 4 entities–Vanguard Emerging Marketplaces Inventory Index Money, Vanguard Overall Global Inventory Index Fund, Vanguard Fiduciary Rely on and Vanguard FTSE All Planet Small Caps Index–Quant acquired .fifty five per cent and Norges .23 per cent.

The company’s share price tag shut now at Rs sixty nine.20 on the bourses.

HFCL, an suitable player in the output-connected incentive scheme for telecom products, experienced just lately educated the inventory trade that it would be elevating Rs 750 crore by way of non-public placement or preferential issue or public issue or qualified institutional placement. It could also vacation resort to any other permissible method or blend thereof, such as by way of issue of fairness shares, preference shares , bonds, debentures, non convertible personal debt instruments among other folks.

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