HCL Technologies ' philanthropic arm, HCLFoundation, has announced the winners of the 11th edition of the HCLTech Grant, marking a significant milestone in corporate social responsibility with enhanced funding and expanded focus areas. The comprehensive grant program will distribute ₹24 crore across 12 selected NGOs for transformative projects addressing critical social and environmental challenges across India.

Enhanced Grant Structure and New Focus Areas

This year's edition introduces water as a new thematic category alongside the existing focus areas of biodiversity, healthcare, and education. The program has also increased its total grant outlay to ₹24 crore, demonstrating HCL Technologies' expanded commitment to sustainable development initiatives across the country.

Major Grant Recipients and Project Details

Four NGOs have been selected to receive the highest funding tier of ₹5 crore each for their comprehensive project proposals:

Additional Grant Recipients

Eight NGOs will receive ₹50 lakh each, distributed across all four thematic categories:

Water Category:

• Leh Nutrition Project, Ladakh
• Watershed Organisation Trust, Madhya Pradesh

Biodiversity Category:

• Regional Centre for Development Cooperation, Odisha
• South Asian Forum for Environment (SAFE), West Bengal

Health Category:

• EKJUT, Jharkhand
• Utkarsh Welfare Foundation, Uttar Pradesh

Education Category:

• Shri Bhuvneshwari Mahila Ashram, Uttarakhand
• Youth Council for Development Alternatives, Odisha

Selection Process and Jury Composition

The grant program received 7,274 registrations from NGOs across India, demonstrating the significant interest and need for such funding initiatives. A distinguished jury panel selected the winners, chaired by Robin Ann Abrams, Former Board Member of HCL Technologies, and including notable figures such as Roshni Nadar Malhotra, Chairperson of HCLTech, and other industry leaders from legal, academic, and corporate sectors.

Program Impact and Legacy

Over the past decade, HCLTech Grant-supported projects have achieved substantial impact metrics:

Dr. Nidhi Pundhir, Director of HCLFoundation, emphasized the program's role as a catalyst for change in the development sector, contributing to the Viksit Bharat vision by empowering NGOs to innovate and scale solutions for complex social and environmental issues at the grassroots level.

HCL Technologies Limited has announced the complete repayment of senior unsecured notes by its subsidiary HCL America Inc., resulting in the full release of the parent company's guarantee obligations. The development concludes a significant debt obligation cycle that began with the original issuance in March 2021.

Complete Repayment Structure

HCL America Inc., a wholly owned step-down subsidiary incorporated under California laws, has successfully completed the full repayment of its senior unsecured notes program. The comprehensive repayment timeline demonstrates systematic debt management:

The original 1.375% senior unsecured notes were issued in March 2021 with a total value of $500.00 million. Following the buyback of $247.79 million in aggregate principal amount in February 2023, HCL America Inc. has now completed repayment of the remaining $252.21 million, effectively closing the entire notes program.

Guarantee Release Confirmation

With the complete repayment of all outstanding senior notes, HCL Technologies Limited's unconditional and irrevocable guarantee has been fully released. The parent company is no longer liable for any obligations related to these USD denominated securities, marking the successful conclusion of the guarantee arrangement that supported the subsidiary's debt issuance.

Financial Management Achievement

The systematic completion of this repayment cycle demonstrates HCL America Inc.'s strong financial management capabilities and robust debt servicing capacity. The subsidiary's ability to manage and retire the entire $500 million notes program through strategic buybacks and scheduled repayments reflects sound corporate financial planning.

The transaction structure involved HCL America Inc. as the primary obligor, operating as a wholly owned step-down subsidiary of HCL Technologies Limited. The successful completion eliminates all related debt obligations and guarantee exposures for the parent company.

This announcement ensures full compliance with regulatory disclosure requirements under Regulation 30, maintaining transparency regarding the company's debt management strategy and the successful conclusion of this significant financial obligation.