You are here: Home » News-CM » Companies » News
Business Standard

Outcome of board meeting of Hindustan Copper

Capital Market 

Held on 29 October 2020

The Board of Hindustan Copper at its meeting held on 29 October 2020 has decided as follows:

(i) The Board recommended seeking shareholders' approval for (a) fixing of upper limit of borrowing not exceeding RS.2,500 crore for all types of borrowings/ loans including bonds across various products, together with interest and creation of security/charge on assets of the Company and (b) revalidation of shareholders' approval for issuance of securities through Qualified Institutional Placement (QIP) up to 15% of existing paid up equity capital of the Company;

(ii) The Board recommended to the Ministry of Mines, Government of India to modify object clause of the QIP from 'expansion/capex plan' to 'general corporate purpose including ongoing expansion/ capex plan'.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 29 2020. 19:54 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU