Hindalco to raise Rs. 4,400 crore via debt
Hindalco Industries announced that its board will consider raising up to Rs. 4,400 crore via debt this week. On Monday, the company said in a filing to BSE that the board will consider to avail not exceeding Rs. 2,400 crore working capital facility by way of commercial papers and unsecured debentures, etc. for aluminium business subject to necessary approval.
The meeting of the board of directors is scheduled for August 11.
According to the company website, Hindalco, the metal flagship of the Aditya Birla Group, is the industry leader in aluminium and copper. With a consolidated turnover of $17 billion, Hindalco is the world’s largest aluminium rolling company and one of Asia’s biggest producers of primary aluminium. Its copper facility comprises a copper smelter and a fertiliser plant, along with a captive jetty, the website said.