Hindalco raises Rs 3,000 cr via pvt placement

Aditya Birla group's flagship firm, Hindalco Industries, on Wednesday said it had raised Rs 3,000 crore through a private placement. The company issued secured, listed-rated non-convertible debentures having maturity of 10 years with a coupon of 9.55 percent to institutional investors, it said here. HDFC Bank and Standard Chartered Bank were the joint arrangers for the deal, and the transaction closed today.