Hindalco Industries Ltd, Aditya Birla Group's metals flagship, on Wednesday, January 18, announced the public issue of non-convertible debentures (NCDs) worth Rs 700 crore. The company stated in a regulatory filing that its capital raising committee has approved an allotment of 70,000, which is 7.60 percent per annum, rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of Rs 1,00,000 each aggregating to Rs 700 crore, on private placement basis.
The debentures will be redeemed at par at the end of the 14 months from the date of allotment (January 18, 2023), it said. The debentures worth up to Rs 700 crore will be issued on a private placement basis.
The NCDs will be listed on the wholesale debt market segment of the National Stock Exchange of India (NSE).
Hindalco Industries, a $26-billion metals powerhouse, is an industry player in aluminium and copper. It is the world’s largest aluminium company by revenue.
