Hindalco plans to raise up to $830M

By PTI
18 July, 2014

Aditya Birla Group firm Hindalco Industries plans to raise up to Rs 5,000 crore by issuing equity shares to institutions or through other options.

“…the Board of Directors of the company at its meeting held on July 18, 2014, has approved raising of funds for an amount not exceeding Rs 5,000 crores…,” it said in a BSE communique.

The instruments could be through issuance of securities including equity shares or equity linked securities, including through a qualified institutions placement and/or issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares and/or other securities with or without warrants, it said.

The raising of the fund is subject to the approval of the members of the company, it said, adding a meeting has been called of the members of the company on August 14 to approve the proposal.

An industry leader in aluminium and copper, Hindalco Industries, the metals flagship company of the Aditya Birla Group, is the world’s largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia.

Shares of the company closed 2.23 per cent down at Rs 184.55 apiece on the BSE.


Leave Your Comment
Siti Cable may raise up to $100M through QIP

Siti Cable may raise up to $100M through QIP

Bhawna Gupta 3 years ago
Siti Cable Network Ltd, a cable television services provider promoted by Essel Group, has received the board approval to raise up to $100 million through...
Satin Creditcare raises $3.7 mn from Karvy Capital

Satin Creditcare raises $3.7 mn from Karvy Capital

Anuradha Verma 1 year ago
New-Delhi-based microfinance institution Satin Creditcare Network Ltd has secured Rs 25 crore ($3.7 million) through an issuance of non-convertible, redeemable, cumulative preference shares to Karvy...
News Roundup: Govt Invites Bankers For NTPC Stake Sale

News Roundup: Govt Invites Bankers For NTPC Stake Sale

TEAM VCC 1 year ago
Investors Want Exit From DLF Project – About 100 investors, out of a total of 223 who backed real-estate major DLF’s proposed commercial project at...
No Comments

Hindalco plans to raise up to $830M

Powered by WordPress.com VIP