Hindalco Industries Ltd has announced that the Committee of Directors of the Company at its meeting held on November 26, 2009, has determined November 26, 2009 to be the issue closing date and Rs. 130.90 per equity share to be the issue price pursuant to the qualified institutions placement of the equity shares under the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI Regulations") to Qualified Institutional Buyers ("QIBs") as defined under 2(1)(zd) of the SEBI Regulations (the "Placement").
The Committee has also approved the Placement Document in respect of the equity shares proposed to be issued as aforesaid. The Company proposes to issue 213,147,391 equity shares of face value of Re. 1 each to raise aggregate proceeds of Rs. 27901 million and net proceeds, after deduction of issue expenses, of Rs. 27488 million. The outstanding paid up capital of the Company pursuant to the issue shall be Rs. 1913 million.
The stock was trading at Rs.128.45, up by Rs.4.75 or 3.57%. The stock hit an intraday high of Rs.132 and low of Rs.126.90.
The total traded quantity was 792825 compared to 2 week average of 1799037.
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