HCL INFO GETS BOARD NOD TO RAISE RS 825 CRORE

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IT firm HCL Infosystems said that its board has approved Rs 825 crore fund-raising plan. The company will raise Rs 500 crore through issue of equity shares or equity-linked instruments such as American Depository Receipts, Global Depository Receipts and foreign currency convertible bonds. The balance Rs 325 crore will be raised through allotment of warrants to the promoters, HCL Infosystems said in a filing to the Bombay Stock Exchange. HCL Info, which is engaged in manufacturing and trading of IT hardware, will seek shareholders’ approval to raise the funds during an extraordinary general meeting scheduled for September 23.

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