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HFCL Limited ( (IN:HFCL) ) has shared an update.
HFCL Limited has announced that there is no deviation or variation in the utilization of funds raised through its Qualified Institutions Placement (QIP) as reviewed by the Audit Committee for the quarter ending December 31, 2024. The company had raised approximately Rs.352 crores, and the funds have been utilized as planned for capital expenditure, research and development, repayment of borrowings, working capital, and general corporate purposes, with a slight adjustment due to lower-than-anticipated issue expenses. This statement ensures stakeholders that HFCL is adhering to its financial plans, potentially reinforcing investor confidence and securing its strategic financial initiatives.
More about HFCL Limited
HFCL Limited operates in the telecommunications industry, focusing on manufacturing and supplying telecom equipment and solutions. Their primary products include optical fiber cables, telecom equipment, and related infrastructure solutions, serving both domestic and international markets.
YTD Price Performance: -14.00%
Average Trading Volume: 858,106
Current Market Cap: 141.4B INR
See more data about HFCL stock on TipRanks’ Stock Analysis page.