Hindalco Industries has raised Rs 1,500 crore through issuing secured redeemable non-convertible debentures (NCD) on Private Placement basis at the coupon of 9.55% per annum. The proceeds will be used, for general, business purposes including capital expenditure, working capital, refinancing of existing debt.
The committee of directors in their meeting held on June 27, 2012, approved the allotment of 15,000 secured redeemable non-convertible debentures on private placement basis, having the face value of Rs 10,00,000 each to the eligible investors.
The aforesaid debentures are proposed to be listed on WDM of National Stock Exchange of India (NSE).
