Hindalco seeks shareholders' nod to raise up to INR 6,000 crore

Aluminium maker Hindalco Industries seeks its shareholders' approval to raise up to INR 6,000 crore through issuance of non convertible debentures (NCDs) on private placement basis.

"Consent is sought to offer or invite subscription to non convertible debentures up to an amount not exceeding INR 6,000 crore on private placement basis from time to time until September 15, 2016," Hindalco said in a BSE filing.

Hindalco said its Board will consider raising funds in one or more series/ tranches. The company's AGM will be held on September 16. Shares of Hindalco were trading at INR 80.15, down 0.68 per cent, on the BSE in the morning trade.

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