India’s Hindalco may sell convertibles; board meeting set for Nov. 12

By Susanna Moon

Chicago, Nov. 9 – Hindalco Industries Ltd. notified the Bombay Stock Exchange that it may seek to raise funds through the issue of convertible bonds.

The issue will be considered at a board meeting set for Nov. 12.

The company may sell stock, Global Depository Receipts, American Depository Receipts, foreign-currency convertible bonds, fully or partly convertible debentures, preference shares or any security convertible into equity shares, according to the notice.

Hindalco is a non-ferrous metals company based in Mumbai, India.

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