New Delhi, April 10: Himachal Futuristic Communications Ltd (HFCL) has decided to pay an interim dividend of 25 per cent. The company has fixed May 10, 2000 as the record date for the interim payout, which according to company officials, is the highest ever dividend that HFCL has paid.Meanwhile, the company has allotted 15,76,809 equity shares of Rs 10 each, at a premium of Rs 1440 each amounting to Rs 228.64 crore, to Ecom.com Ltd-a wholly-owned subsidiary of the Kerry Packer Group of Australia. These shares have been issued under the automatic approval route of RBI.
An application has been submitted to the FIPB, to seek its approval, to issue the balance 55,88,841 shares, amounting to Rs 810.38 crore to the Kerry Packer Group. HFCL had earlier announced that Kerry Packer was investing Rs 1050 crore in the company. However, after this announcement was made, a circular was issued by the RBI, which set the limit of direct foreign investment through the automatic approval route at Rs 600 crore.
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