The proposed company will be incorporated in India under the name HC Concessions Ltd, or such other name as may be approved by the Registrar of Companies, Mumbai. The date of incorporation is yet to be decided.
HCC Infrastructure Company will subscribe to 5,100 equity shares of ₹10 each, aggregating to ₹51,000, in the proposed company. The subscription will be made in cash and will represent 51% of its paid-up equity share capital.
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The proposed entity will be a step-down subsidiary of Hindustan Construction Company, with HCC Infrastructure Company as its holding company. HCC Infrastructure Company is a wholly owned subsidiary of HCC.
The company will operate in the infrastructure development industry and is being incorporated to undertake infrastructure-related businesses in India and abroad.
Its proposed activities include acting as builders, contractors, promoters, developers and operators of infrastructure facilities, either independently or jointly with other companies, persons or entities.
The proposed company can undertake the promotion, development, surveying, establishment, design, construction, equipping, operation, management, maintenance, modification, upgrading, ownership, administration, control and financing of a wide range of infrastructure projects.
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These include roads, highways, expressways, bridges, river crossings, waterways, approach roads, interchanges, flyovers, tunnels, ports, airports, railway facilities, mass rapid transport systems, power stations, telecommunications, waterworks, dams, irrigation systems, sewage works, water distribution, hydrocarbon transmission pipelines and urban infrastructure projects.
The scope also includes residential and commercial townships, restaurants, hotels, motels, recreation and amusement parks, fuel pumps, vehicle repair workshops, public conveniences, medical and first-aid centres, commercial premises, rest rooms, hoardings, toll booths and toll plazas.
The proposed company can undertake projects under models including Build-Own-Operate (BOO), Build-Own-Transfer (BOT), Hybrid Annuity Model (HAM), Build-Own-Operate-Maintain (BOOM), Build-Own-Operate-Transfer (BOOT), Design-Build-Finance-Operate (DBFO) and Build-Operate-Lease-Transfer (BOLT), or any other model in the infrastructure development sector.
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The company can work with the Government of India, state governments, semi-government bodies, municipal and local authorities, corporate bodies, persons and other authorities in India or abroad. No government or regulatory approval is required for the incorporation.
Shares of Hindustan Construction Company Ltd ended at ₹21.55, up by ₹0.51, or 2.42%, on the BSE.
