According to a regulatory filing, Himachal Futuristic Communications Limited (HFCL) and its subsidiary, HTL Limited, has received purchase orders amounting to about Rs 970 million from a leading Indian telecom operator for the supply of optical fibre cables (OFCs). The order is expected to be executed by March 2023.
Besides, according to a separate regulatory filing, the company’s board will inter-alia consider proposals on September 2, 2022 for fundraising by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments, among others.
Earlier in December 2021, HFCL had raised Rs 6 billion via a qualified institutional placement (QIP) issue which it said would be utilised towards funding capital expenditure (capex) for setting up new manufacturing facilities, capacity expansions, and expenditure on research and development (R&D) and product development.
