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Hindalco Industries’ promoters to hike stake: Report

22 Aug 2013 Evaluate

Hindalco Industries’ promoters are reportedly planning to hike their stake in the company by converting preferential warrants into equity shares. In this regard, Kumar Mangalam Birla, the chairman of Aditya Birla Group, will invest Rs 2,165 crore by October to raise his stake by 5% to 37% in the company by converting 150 million preferential warrants into equity shares.

The company, India's largest aluminium producer, had issued warrants to Birla in March 2012 with a conversion price of Rs 144.35 a piece, a 54% premium to closing price of Rs 93.35 on August 21, 2013.

As on June 30, 2013, the promoters holding in the company stood at 32.06% while Institutions and Non-Institutions held 42.12% and 25.82% respectively.

The company has reported 11.61% rise in its net profit at Rs 474.09 crore for the quarter as compared to Rs 424.77 crore for the same quarter in the previous year. However, total income from operations of the company has decreased marginally by 3.15% at Rs 5837.93 crore for quarter under review as compared to Rs 6027.94 crore for the quarter ended June 30, 2012.

Hindalco Share Price

1038.95 -0.70 (-0.07%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1038.95
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