HFCL Limited (HFCL), a leading innovation-led telecommunications company, has raised Rs. Issue 6 billion rupees through QIP. QIP has received enthusiastic responses from institutional investors such as Reliance Ventures, Quant Mutual Fund, IIFL Wealth, Elara India, Discovery, Segantii, Millennium, etc. These institutional investors participated in the company's fund-raising plan. The QIP proceeds will be mainly used to fund capital expenditure requirements for the establishment of new manufacturing facilities, capacity expansion, and R&D and product development expenditures. Previously, the company’s board of directors passed an authorization resolution at a meeting held on September 3, 2021 to raise funds through private placement, priority issuance, public issuance, allotment, or allotment by qualified institutions or any other permitted method. At the 34th Annual General Meeting of Shareholders to be held on September 30, 2021, the Fund Raising Committee of the company's board of directors decided to raise funds through QIP. The issuance will end from December 06, 2021 to December 9, 2021. At its meeting on December 10, 2021, the Fund Raising Committee of the Board of Directors approved the issuance and allotment of 8,72,72,727 shares to 21 qualified institutional buyers at an issue price of Rs. US$68.75 per share (including a premium of Rs 67.75 per share), for a total of Rs. 6 billion rupees. The newly allocated shares will begin trading on the National Stock Exchange of India Limited and BSE Limited today (ie December 14, 2021). HFCL Managing Director Mr. Mahendra Nahata commented on the question of closing QIP: "HFCL has successfully raised Rs 6 billion through QIP. I thank all investors for their overwhelming support and confidence in HFCL's long-term growth strategy. This financing will help. In accelerating the company’s plans to establish new manufacturing facilities, capacity expansion, research and development plans, and new product development. While expanding our Goa and Chennai plants, recently strengthening our global leadership team, and our new investment in product development, HFCL is preparing Take full advantage of the upcoming growth opportunities in the decade of digital transformation that we have seen in vertical industries. With capacity expansion, the company will receive substantial revenue, market share and profit growth dividends. The government announced the PLI plan, the creation of the SG network, and the BharatNet plan. The expansion of the company, the fast-growing fiber-to-the-home segment, and additional spectrum allocation for telecommunications companies will all expand our scope of opportunities. He also added that capital expansion will also help establish new factories under the AtmaNirbhar Bharat / Make in India initiative , To manufacture products for the defense sector and enable the company to seize opportunities in the defense sector.” Under the active government policy, the company expects the telecommunications industry to perform exceptionally well. India will create a new 5G network and increase broadband penetration. Rapid growth. Policies such as BharatNet (where the government has taken the initiative to connect every village with fiber optic cables), PLI plans for telecommunications and network products will increase the country’s manufacturing capacity, export and promote the “Atmanirbhar Bharat” initiative and provide impetus for the development of the telecommunications industry. The last trading time of HFCL Limited's shares on BSE was 87.40 rupees, while the last closing price was 86.80 rupees. Out of more than 19352 transactions, 3950139 is a day. The stock hit an intraday high. 91.80 and the intraday low of 86.40. The net turnover for the day was Rs. 351681610.00.