Hindalco Industries, the flagship company of the Aditya Birla Group, today said it has fixed Rs 130.90 a piece as the issue price for qualified institutional placement (QIP) of its equity shares.

The company has determined November 26 as the closing date of the issue and Rs 130.90 per share as the issue price, Hindalco said in a filing to the Bombay Stock Exchange.

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Last week, the company's shareholders had given approval to issue further securities of the company for an amount not exceeding Rs 2,900 crore.

Shares of Hindalco were trading at Rs 126.60, down 4.95 per cent in afternoon trade on the BSE.

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