Aditya Birla group company Hindalco Industries today said its shareholders have approved the raising of funds up to Rs 2,400 crore by issuing securities in the domestic or international markets.
Shareholders of the company have given their approval for garnering funds through the issue of securities that include equity shares, debentures and warrants, Hindalco Industries said in a statement to the Bombay Stock Exchange (BSE).
The fund raising plan also includes green shoe option, it said.
According to the company, the funds may be raised in one tranche or more.
The company has an option to issue securities to qualified institutional buyers (QIB) on a private placement basis.
Shareholders of the company approved fund raising plan during annual general meeting (AGM) held on September 18, it added.
Shares of Hindalco Industries today closed at Rs 128.85, up 0.51 per cent on the BSE.
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