Hindustan Copper planning to raise funds through QIP

22 Oct 2020 Evaluate

Hindustan Copper (HCL) is planning to raise funds by issue of shares via qualified institutional placement (QIP). This will be to the extent of 15 per cent of existing paid up equity capital. The board meeting, which is scheduled on October 29, 2020 will also consider and recommend seeking approval of shareholders for the overall borrowing limit of Rs 2,500 crore for all types of borrowings/ loans including bonds.

The board will also consider recommending to the mines ministry to modify object clause of the QIP from expansion/capex plan to general corporate purpose including ongoing expansion/ capex plan.

Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.

Hindustan Copper Share Price

278.20 -6.80 (-2.39%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Hindalco 560.45
Vedanta 271.65
Hindustan Zinc 292.25
Gravita India 1000.00
Ram Ratna Wires 256.00
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