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.