Hindustan Construction Company (HCC) launched its ₹1,000 crore rights issue on Friday, December 12, 2025, offering existing shareholders a chance to buy new shares at a significant discount. The subscription window will remain open until Monday, December 22. Meanwhile, HCC shares fell 6% to ₹17.75 during intraday trading as investors reacted to the offering. The company set December 5 as the record date for determining eligible shareholders.

This fundraising move comes as HCC continues restructuring its balance sheet. Additionally, the rights issue follows a major announcement about reducing the company’s debt guarantee obligations. These strategic steps aim to strengthen HCC’s financial position.

Rights Issue Details

The rights shares carry a premium of ₹11.5, meaning each share has a face value of just ₹1. Furthermore, the board may extend the offer period if needed, though the total duration cannot exceed 30 days.

Understanding Rights Issues

A rights issue allows companies to raise money by offering existing shareholders new shares at a discount. This method helps companies get funds without taking on more debt. However, it increases the total number of shares outstanding.

In HCC’s case, the share count will grow from 181 crore to 261 crore after completion. Consequently, existing shareholders who don’t participate may see their ownership percentage diluted. Therefore, shareholders must decide whether to buy additional shares or sell their rights.

Important Deadlines

Key Dates for Shareholders:

• On-market renunciation deadline: December 17, 2025
• Off-market renunciation deadline: December 19, 2025
• Last day to subscribe: December 22, 2025

Shareholders who don’t want to participate can sell their rights entitlement to others. On-market renunciations happen through stock exchanges at market prices. Conversely, off-market transactions occur directly between parties. Once shareholders submit applications, they cannot withdraw them.

Debt Restructuring Progress

HCC achieved a major milestone by reducing its corporate guarantee to Prolific Resolution Private Limited (PRPL). The guarantee dropped from 100% of outstanding debt to just ₹571 crore, representing only 20% of the principal transferred. This reduction amounts to ₹3,364 crore less liability.

Originally, HCC transferred ₹2,854 crore of debt and ₹6,508 crore of awards and claims to PRPL in September 2022. Subsequently, the company retained a 49% equity stake in PRPL. Currently, PRPL’s total debt including interest stands at approximately ₹3,935 crore.

Strategic Benefits

The guarantee reduction enables HCC to pursue several goals. First, it improves the company’s credit rating, making borrowing easier. Second, it opens access to larger credit facilities from banks. Third, it allows HCC to raise equity capital more effectively.

HCC stated this development represents “a pivotal moment” for the company. Moreover, the promoter group supports the rights issue, demonstrating confidence in HCC’s future. The company worked closely with lenders to ensure all approvals met legal and governance requirements.

Stock Performance

Despite this positive development, HCC shares have struggled recently. The stock dropped 25% in December and 16% in November. Additionally, it trades 56% below its 52-week high of ₹40.23 reached in December 2024.

The broader decline shows concerning numbers: down 60% over one year, 48% in six months, and 38% in three months. Nevertheless, long-term investors remain profitable, as the stock gained 116% over five years. This makes HCC a multibagger stock despite recent volatility.

Market Reaction

The 6% drop on the opening day suggests investors remain cautious about HCC’s prospects. However, the significant discount in the rights issue provides value for those willing to average down their investment. Furthermore, the debt restructuring progress indicates management is taking concrete steps to improve finances.

Analysts note that successful completion of this rights issue will strengthen HCC’s balance sheet. Similarly, the reduced guarantee obligation removes a major overhang that had concerned investors for years.

What Shareholders Should Consider?

Eligible shareholders must evaluate several factors before deciding. Those confident in HCC’s turnaround story might view the 34% discount as attractive. Conversely, those concerned about continued losses might choose to sell their rights entitlement instead.

The HCC rights issue represents a crucial step in the company’s financial recovery journey, offering existing investors an opportunity to participate in its restructuring efforts at a discounted price while potentially benefiting from future growth if the debt reduction strategy succeeds.

The Under-19 Asia cup 2025 began with fireworks on Friday, December 12, at Dubai’s ICC Academy Ground. Teen sensation Vaibhav Suryavanshi stole the show with a breathtaking century off just 56 balls against UAE. The 14-year-old left-handed batsman smashed five fours and 12 sixes, displaying incredible power-hitting skills. Meanwhile, India dominated from the start after UAE captain Yayin Rai won the toss and chose to bowl first.

Suryavanshi reached his fifty in merely 30 balls with four boundaries and four sixes. Subsequently, he accelerated even further, completing his century at a strike rate exceeding 174. His performance broke multiple records and set new standards for youth cricket.

Record-Breaking Performance

The young star set several impressive records during his innings. First, he hit 12 sixes in a single innings, breaking the previous under-19 Asia Cup record of 10 sixes held by Afghanistan’s Darwish Rasooli since 2017. Furthermore, Suryavanshi became the youngest Indian to score centuries in all three formats: List A, First Class, and T20.

His 56-ball century ranks as the third-fastest youth ODI hundred in Asia Cup under-19 history. Moreover, he already holds the fastest ton record of 52 balls against England earlier this year. This consistency proves his exceptional talent across different conditions.

Partnership Powers India Forward

Although captain Ayush Mhatre disappointed with just 4 runs off 11 balls, Suryavanshi found a reliable partner in Aaron George. Together, they built an outstanding 212-run partnership that completely demoralized the UAE bowling attack. George contributed a solid 69 off 73 balls before departing.

This partnership stabilized India’s innings after the early wicket. Additionally, it allowed Suryavanshi to play his natural aggressive game without pressure. The partnership demonstrated excellent understanding between the two young batsmen.

Tournament Structure

The tournament features eight teams divided into two groups. Subsequently, the top two teams from each group advance to the semifinals on December 19. Finally, the championship match takes place on December 21 at ICC Academy Ground.

Key Matches to Watch

India’s Remaining Group Matches:

• India vs Pakistan – December 14 (ICC Academy Ground)
• India vs Malaysia – December 16 (Sevens Stadium)

The India-Pakistan clash on December 14 will attract maximum attention. This rivalry always generates enormous interest among cricket fans. Similarly, all matches start at 10:30 AM IST.

India’s Strong Squad

India enters the tournament as favorites after recently sweeping Australia under-19 3-0. Captain Ayush Mhatre leads a talented squad featuring several IPL players. Besides Suryavanshi, the team includes vice-captain Vihaan Malhotra and wicketkeeper Abhigyan Kundu.

The batting lineup looks particularly strong with Vedant Trivedi, who scored 173 runs against Australia. Moreover, the bowling attack features Kishan Kumar Singh, Henil Patel, and Kanishk Chouhan. This balanced squad can handle pressure situations effectively.

Vaibhav Suryavanshi’s Journey

Born on March 27, 2011, in Bihar’s Samastipur district, Suryavanshi started cricket training at age four. His father Sanjiv, an aspiring cricketer himself, recognized his son’s talent early. Consequently, he enrolled Vaibhav at GenNex Cricket Academy in Patna at age eight.

The youngster made history by debuting in IPL 2025 for Rajasthan Royals at just 14 years and 23 days, becoming the youngest IPL player ever. Furthermore, he scored 101 off 38 balls against Gujarat Titans, making him the youngest IPL centurion. His rapid rise continues to amaze cricket experts worldwide.

Recent Form

Before this match, Suryavanshi scored 239 runs in four matches during the Asia Cup Rising Stars Tournament 2025. Notably, he blasted 144 off just 42 balls against UAE in that competition. Additionally, he scored a century for Bihar in the Syed Mushtaq Ali Trophy recently.

This consistent performance across different tournaments demonstrates his maturity beyond his years. Therefore, expectations remain high for the remainder of the tournament.

UAE’s Challenge

UAE approached the tournament hoping to reset their campaign after four consecutive losses. Their 180-run defeat to Afghanistan in the qualifiers exposed several weaknesses. However, they struggled against Suryavanshi’s onslaught and couldn’t contain India’s batting power.

The UAE bowlers created a couple of chances to dismiss Suryavanshi early but failed to capitalize. Consequently, they paid a heavy price as the young batsman dominated throughout his innings.

Broadcast Details

Fans can watch all matches live on Sony Sports Network television channels. Similarly, live streaming is available on the SonyLIV mobile application and website. Additionally, BCCI’s official website and application provide live scores and updates.

Tournament Significance

This tournament serves as crucial preparation for the 2026 Under-19 World Cup. Therefore, all teams use it to test their combinations and strategies. India aims to identify the best playing eleven and build team chemistry before the global event.

The Under-19 Asia cup provides young cricketers an excellent platform to showcase their skills on the international stage. With Vaibhav Suryavanshi leading from the front, India looks well-positioned to challenge for the title and continue their preparations for bigger tournaments ahead.