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The board of HSIL has fixed the floor price for the qualified institutional placement at Rs 412.53. Through the QIP issue, which opens for subscription on Monday, the company plans to raise Rs 250 crore.
The board of directors on October 29, 2014, had approved raising Rs 250 crore through private placement for pre-payment of long-term/short-term debts.
HSIL shareholders have also approved the proposal to raise funds through QIP.
The borad of HSIL on January 15 had also approved to increase the present limit of foreign institutional investors (Flls) shareholding in the company to 40 per cent and non-resident Indians (NRIs) shareholding to 5 per cent.
Shares of HSIL were trading 0.8 per cent higher at Rs 412.40 in early trade on Tuesday.
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