India Hindalco to sell up to $600 mln shrs-sources

MUMBAI Nov 23 (Reuters) - Indian aluminium maker Hindalco Industries Ltd (HALC.BO) plans to launch a $500 million to $600 million share sale to institutions at 130 to 132 rupees a share, two sources with direct knowledge of the deal said on Monday.

Bank of America Merrill Lynch (BAC.N), Citigroup (C.N) and HSBC (HSBA.L) are among the arrangers, said the sources, who spoke on condition of anonymity.

On Monday, Hindalco shares closed down 0.4 percent at 133.80 rupees in a Mumbai market that rose 0.9 percent. (Reporting by Narayanan Somasundaram & Nishant Kumar; Editing by John Mair) ((narayanan.somasundaram@thomsonreuters.com; 91 22 6636 9068; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))