Hindalco Industries Ltd.

Aluminium major Hindalco Industries, a part of $35-billion Aditya Birla group is reportedly planning to mop up $580 million through 10-year bonds at 9.55%. Standard Chartered Bank and HDFC Bank are arrangers to the deal.

The company, part of the diversified Aditya Birla Group, is striking quickly after the Reserve Bank of India (RBI) on Tuesday cut interest rates by a bigger-than-expected 50 basis points.