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Hindalco shareholders okay 1.5 mn warrants issuance

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flagship company Industries today said its shareholders have approved the issuance of 1.5 million warrants to promoter group entities on preferential basis.

Shareholders approved the issuance of warrants during the Extra-Ordinary General Meeting held here.

According to a filing to the Bombay Stock Exchange (BSE), shareholders today approved "issuance up to 1.5 million warrants to promoter/ promoter group companies on preferential basis...."

However, financial details were not disclosed.

The shares of Hindalco Industries closed at Rs 131.40 a piece, down 0.34% from its previous close on the BSE.

Hindalco Industries had reported a little over 2% dip in net profit for the third quarter of the current fiscal at Rs 450.69 crore on the back of increased cost of raw materials.

Hindalco Industries is a leading firm both in the aluminium and copper space.

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