HCC shareholders approve ₹800 crore fund raise at 100th AGM

Hindustan Construction Company shareholders have authorized the board of directors to raise funds aggregating up to ₹800 crore through equity-linked securities. The approval was secured at the company's 100th Annual General Meeting held on August 18, 2026.

The authorization permits the issuance of equity shares or other equity-linked instruments via qualified institutional placement, preferential allotment, rights issue, or any combination thereof. The specific mode of issuance remains to be decided by the board or its duly authorized committee, subject to necessary regulatory and statutory approvals.

Regulatory Disclosure

The company made the disclosure pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Details of Authorization

Particular	Details
Maximum Fund Raise	₹800 crore
Instrument Type	Equity shares or equity-linked securities
Issuance Mode	QIP, preferential allotment, rights issue, or combination
Decision Authority	Board of Directors or authorized committee

Nitesh Kumar Jha, Company Secretary of Hindustan Construction Company, signed the intimation filed with the Bombay Stock Exchange and National Stock Exchange of India Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.43%	-0.69%	-10.42%	+4.59%	-10.62%	+156.92%

Hindustan Construction Company appointed Nakul Pasricha as an Independent Director for a term of five consecutive years, effective July 10, 2026. The appointment was ratified by shareholders at the company’s 100th Annual General Meeting (AGM) held on August 18, 2026, passing with overwhelming support.

Mr. Pasricha, who was initially appointed by the Board of Directors as an Additional Non-Executive Independent Director on July 10, 2026, is not liable to retire by rotation. The company confirmed that he is not debarred from holding office by any SEBI order or other authority. His appointment brings significant technology and anti-counterfeiting expertise to the infrastructure firm’s board.

Voting Outcomes

The AGM, conducted via Video Conferencing and Other Audio-Visual Means (OAVM), saw all resolutions pass with the requisite majority. Mr. B. Narasimhan of B N & Associates served as the Scrutinizer. Remote e-voting was managed by National Securities Depositories Limited (NSDL) between August 14 and August 17, 2026, with a cut-off date of August 11, 2026.

Resolution	Total Votes Polled	Votes in Favour	Votes Against	% in Favour	Status
Adoption of Financial Statements (FY26)	770,277,853	581,164,723	189,113,130	75.45%	Passed
Re-appointment of Aditya Pratap Jain	770,277,815	613,534,981	156,742,834	79.65%	Passed
Appointment of Nakul Pasricha (Ind. Dir.)	770,277,715	768,801,724	1,475,991	99.81%	Passed
Remuneration of Ajit Gulabchand	770,134,777	583,775,224	186,359,553	75.80%	Passed
Ratification of Cost Auditors	770,277,715	768,876,142	1,401,573	99.82%	Passed
Increase in Authorised Share Capital	770,275,495	768,294,062	1,981,433	99.74%	Passed
Issue of Securities	770,249,295	767,083,479	3,165,816	99.59%	Passed

Key Observations

Promoter Support: The promoter group, holding 423,636,122 shares, voted 100% in favour of all seven resolutions. This decisive backing ensured the passage of every agenda item despite opposition from other shareholder categories.

Institutional Dissent: Public institutional investors, who polled 219,725,051 votes (62.61% of their holdings), showed significant resistance on two fronts:

Financial Statements: 85.20% of institutional votes were cast against the adoption of the audited standalone and consolidated financial statements for FY26.
Chairman’s Remuneration: 84.17% of institutional votes opposed the payment of remuneration to Non-Executive Chairman Ajit Gulabchand.

Conversely, these same institutions voted unanimously (100%) in favour of the appointment of Independent Director Nakul Pasricha and the ratification of cost auditors.

Public Non-Institutional Investors: This category, representing the largest shareholding base (1,844,904,998 shares), demonstrated high approval rates, voting in favour of over 98% of resolutions across the board.

Profile of New Director

Nakul Pasricha brings over 27 years of experience spanning multiple geographies and industries. He currently serves as Managing Director and CEO of PharmaSecure, a provider of technology-enabled anti-counterfeiting solutions. Under his leadership, PharmaSecure has protected more than 10 billion packs in India and Africa.

Mr. Pasricha also serves on the National Intellectual Property Rights Committee of the Confederation for Indian Industry (CII) and has been President of the Authentication Solution Providers’ Association (ASPA). He is Co-Promoter and Director of Flexing It, a platform for independent consultants. Previously, he served as Chief Information Officer for General Electric’s consumer finance division in India and started his career at Citibank in the US.