IT major HCL Infosystems on Tuesday said that it will raise Rs 500 crore by “rights issue of shares to existing shareholders”.
According to a BSE filing, the company’s board approved the plans to raise the equity capital in its meeting held on Tuesday.
“The Board of Directors… approved the recommendations of its Capital Raising Committee to go for a rights issue of shares to existing shareholders of the company as a mode of raising equity capital aggregating up to Rs 500 crore,” the filing said.