Infrastructure firm Hindustan Construction Company (HCC) has raised Rs 480.10 crore through the issue of shares to Qualified Institutions Buyers (QIBs) through private placement.

The company stated in a communiqué that its board committee has allotted 4.70 crore shares to QIBs by way of Qualified Institutions Placement at an issue price of Rs
102.15 per piece, aggregating to Rs 480.10 crore.

After the issue of shares, the paid-up shares capital of the company stands increased to Rs 30.32 crore from earlier Rs 25.63 crore.

The scrip of the company closed on Friday at Rs 108.90, up 2 per cent on the BSE.