Hindalco Industries Raises Rs.3000 crore

Hindalco Industries Ltd has on April 25, 2012 completed issuance of Secured Redeemable Non-convertible Debentures amounting to Rs. 3,000 Crores on Private Placement basis @ the coupon of 9.55% PA. The Committee of Directors in their meeting held on April 25, 2012, approved the allotment of 30,000 Secured Redeemable Non-convertible Debentures on Private Placement basis, having the face value of Rs. 10,00,000/- each to the eligible Investors, in accordance with SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and other relevant laws

The proceeds will be used for the general business purposes including capital expenditure, working capital, refinancing of existing debt.

The aforesaid Debentures are proposed to be listed on WDM of National Stock Exchange of India Limited.

Shares of Hindalco Industries Ltd closed the day in BSE at Rs.119.80, up by Rs.1 or 0.84%. The stock hit an intraday high of Rs.120.20 and low of Rs.119.20.

The total traded quantity was 0.94 lakhs compared to 2 week average of 9.43 lakhs.

Source : Equity Bulls

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