HFCL’s board has approved a proposal to raise up to Rs 7.5 billion through equity, bonds, debentures or any other securities after approval from shareholders and relevant authorities.

As per a filing with the stock exchanges, the company stated that the fund-raising exercise will be undertaken by way of private placement or preferential issue of public issue or rights issue or qualified institutional placement or through any other permissible mode.

HFCL is one of the applicants for the production-linked incentive scheme, where the government is offering up to 20 times higher incentives based on investment and incremental production.