Hindalco Ind to consider preferential issue
Hindalco Industries on Thursday said its Board will meet on March 2 to consider issue of equity shares or equity linked instruments on a preferential basis.
By PTI |
MUMBAI: A V Birla group company Hindalco Industries on Thursday said its Board will meet on March 2 to consider issue of equity shares or equity linked instruments on a preferential basis.
No other details of the preferential issue were available in Hindalco's regulatory filing on the BSE.
In February, Hindalco Industries announced the acquisition of aluminum sheet maker Novelis for $ 6 billion.
Announcing the acquisition, Birla group chairman Kumar Mangalam Birla had said that the deal would include $2.4 billion in debt.
With the acquistion of Novelis, Hindalco would be the world's largest player in the downstream aluminium business.
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