Hindustan Copper raises Rs 500 cr via QIP issue Hindustan Copper raises Rs 500 cr via QIP issue New Delhi, Apr 15: State-owned Hindustan Copper (HCL) on Thursday said it has raised Rs 500 crore through issuance of shares to institutional investors. “The qualified institutions placement (QIP) of Rs 500 crore has been fully subscribed,” the PSU said in a statement. The funds from the QIP are proposed to be used to fund the ongoing capex/expansion plan of the company. The QIP of HCL closed on April 12 with wide participation from diverse investors including mutual funds, insurance companies, banks and foreign institutional investors. Launched on April 7, this is the first time issuance of a central public sector enterprise to raise funds by issue of shares via QIP.