HFCL board to consider proposals for fund raising

HFCL Board to meet this week to consider proposals for fundraising through various methods.

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HFCL Limited’s Board of Directors will be meeting on 3rd September 2021 to consider and evaluate the proposals for fundraising by way of issue of equity shares, preference shares, bonds, debentures, non-convertible debt instruments, equity shares, warrants, or any other security. The company will also consider preferential share issues or any other methods or combination thereof subject to approval from the shareholders.

In terms of Regulation 29(1) of the SEBI Listing Regulations, we wish to inform you that a meeting of the Board of Directors of the Company, is scheduled to be held on Friday. the 3rd day of September, 2021. inter-alia, to consider and evaluate the proposals for fund raising by way of issue of equity shares/ preference shares/ bonds/ debentures/ non-convertible debt instruments/ equity shares/ warrants/ any other securities, including through preferential issue on a private placement basis, qualified institutional placement, rights issue or any other methods or combination thereof, subject to approval from the shareholders in the ensuing annual general meeting and sanctions/approvals from the other regulatory/ governmental authorities, as may be required,” said HFCL in a regulatory filing.

HFCL earlier this month signed a nationwide distribution agreement with Beetel Teletech for its ‘IO’ line of next-generation products. The agreement will see Beetel market HFCL’s complete portfolio of products under the ‘IO’ brand as the National Distributor. 

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Avatar of Basil Kannagi Arasu
Basil Kannagi Arasu

News Reporter

Basil keeps an eye on the latest happenings in the Telecom sector. You can find him streaming the Premier League, which he started watching in 2013, in his free time.

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