HCC Shares Soar 10% as ₹1,000 Crore Rights Issue Fully Subscribed

• Hindustan Construction Company (HCC) shares surged 10% after its ₹1,000 crore rights issue saw full subscription.
• The rights issue received bids for 130 crore shares against 80 crore shares on offer.
• HCC aimed to raise ₹1,000 crore by issuing shares at ₹12.5 apiece, a significant discount.
• Existing shareholders were entitled to 277 rights shares for every 630 fully paid-up equity shares.
• Rights issues are a fundraising method for companies to raise capital without increasing debt.

Why It Matters: HCC's ₹1,000 crore rights issue fully subscribed, boosting share price by 10%.