Hindalco Industries to raise INR 4,400 cr via debt

<p>Hindalco Industries board will consider raising up to&nbsp;INR&nbsp;4,400 crore via debt.</p> <p>The board &ldquo;will consider... to avail not exceeding&nbsp;INR&nbsp;2,400 crore working capital facility by way of commercial papers and unsecured debentures for aluminium business subject to necessary approval&rdquo;, Hindalco Industries Ltd said in a filing to the BSE today.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/hindalco_3191697f.jpg" alt="news" width="448" height="300" /></p> <p>The board will also consider availing &ldquo;not exceeding&nbsp;INR&nbsp;2,000 crore working capital facility by way of commercial papers and unsecured debentures etc for copper business subject to necessary approval&rdquo;, the filing added.</p> <p>The meeting of the board of directors is scheduled for August 11.</p> <p>{googleAdsense}</p> <p>Hindalco, the metal flagship of the Aditya Birla Group, is the industry leader in aluminium and copper, according to the company website.</p> <p>With a consolidated turnover of $17 billion, Hindalco is the world&rsquo;s largest aluminium rolling company and one of Asia&rsquo;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.</p> <p>Its aluminium units across India cover a gamut of operations from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling.</p>