Hindalco Industries is planning to prepay another Rs 1,100-crore debt in current month to further deleverage its balance sheet. The company has already repaid Rs 7,815 crore and plans to repay another Rs 1,100 crore in the current month, which will save interest cost of Rs 800 crore in the current fiscal. The company has successfully raised $500 million through a Qualified Institutional Placement (QIP) in line with its stated objective to deleverage balance sheet.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
