Hindustan Copper (HCL) is planning to raise Rs 500 crore through issuance and allotment of secured or unsecured non-convertible debentures or bonds on private placement basis.
Moreover, the company is also planning to raise funds by issue of equity shares through Quatified Institutional Placement (QIP) method to the extent of 9,69,76,680 equity shares of face value of Rs 5 each in one or more tranches. A meeting of the Board of Directors of the company will be held on May 19, 2023 to consider the same.
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.
