State-owned Hindustan Copper today said its board will meet tomorrow to review the status of qualified institutional placement (QIP) for raising Rs 1,400 crore.
Hindustan Copper's board had earlier approved a proposal to raise up to Rs 1,400 crore by issuing equity shares through QIP.
Board meeting of the company has been convened at short notice on July 26, 2018 to inter alia review the status of QIP, the company said in a filing to BSE.
"The board of the company in its meeting held on January 31, 2018 recommended seeking members approval for raising funds through issue of equity shares by Qualified Institutional Placement (QIP) method for an amount not exceeding Rs 1,400 crore or USD 217 million, which ever is higher," the filing said.
Hindustan Copper, a vertically integrated copper producer, is primarily engaged in business of mining and processing of copper ore to produce refined copper metal.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app