Hindalco closes QIP issue to raise Rs2790 crore

Hindalco Industries Ltd, the flagship company of the Aditya Birla Group, informed the Bombay Stock Exchange on Friday that its directors has determined Rs130.90 each as the issue price for the qualified institutional placement (QIP) of its equity shares.

The board also fixed 26 November as the issue closing date.
The company proposed to issue 21.31 crore equity shares to raise aggregate proceeds of Rs2,790 crore.

Last week, the company's shareholders had given approval to issue further securities of the company for an amount not exceeding Rs2,900 crore.