INR 700 crores to be raised through NCDs by Hindalco Industries
The world's largest aluminium flat-rolled products maker and aluminium recycler, Hindalco Industries' board has approved fundraising of up to INR 700 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
Hindalco Industries stated while filing in the exchange, "The capital raising committee of the company's board of directors at its meeting held on January 10, 2023, approved the issuance of non-convertible debentures (NCDs) on private placement basis, for an amount not exceeding Rs 700 crore."
On November 11, 2022, the company's board of directors approved borrowing up to INR 1,000 crore through loans, issuance of bonds, notes, debentures, or other securities to banks, financial institutions, or other eligible investors.
The Aditya Birla Group's flagship company for metals is Hindalco Industries. The world's largest aluminium corporation by revenue and a key participant in copper, Hindalco is a $26 billion metals giant. In addition, it is one of Asia's biggest producers of primary aluminium.
Hindalco’s aluminium ingot price further accumulates INR5000/t on January 11
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