Below is the NSE announcement on HFCL.
News Verification : The media had reports that Himachal Futuristic Communication Ltd is planning to sell its 11 acres of land in Chennai. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Himachal Futuristic Communication Ltd has vide its letter inter-alia stated, "We would like to inform you that M/s HTL Ltd. a subsidiary of Himachal Futuristic Communications Ltd. (HFCL) in which Company is holding 74% Equity Capital, has appointed M/s Jones Lang La Salle (JLL) as Marketing Agent to sell 11 acres land owned by M/s HTL Limited. We would further like to inform you that sale of above land will be made through auction for which HTL Limited has invited online bidding. Final Results of the bids is expected to be made in the last week of February 2007. We would also like to clarify that the reserve price of the land is Rs. 20 Crores per acre, not Rs. 15 Crores per acre as reported in the media."
