Hindalco Industries board approves potential Rs. 50 billion convertibles

By Tali Rackner

Norfolk, Va., July 18 – Hindalco Industries Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved raising up to Rs. 50 billion of funds through the issuance of convertible bonds, depository receipts or other exchangeable security.

There will be a meeting on Aug. 14 for member approval.

Located in Mumbai, India, Hindalco is a non-ferrous metals company and part of the Aditya Birla Group.

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