Hindalco Industries to raise up to Rs 700 crore

Aditya Birla Group's metals flagship Hindalco Industries plans to raise up to Rs 700 crore through issuance of non-convertible debentures.

The debentures will be redeemed at par at the end of the 14 months from the date of allotment.

In a regulatory filing on Wednesday, the company said its capital raising committee has approved allotment of 70,000, which is 7.60 per cent per annum, rated, listed, unsecured, redeemable, Non-Convertible Debentures (NCDs) of Rs 1,00,000 each.

The debentures worth up to Rs 700 crore will be issued on a private placement basis.

Hindalco is a leading aluminium manufacturing company.

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