Hindalco Industries rises 0.9% on average volume for a second consecutive day, a two day rise of 4.5%
Provider: News Bites Pty Limited
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Hindalco Industries Limited Recommends Dividend; Announces Allotment And Completion Of Secured Redeemable Non-convertible Debentures
Hindalco Industries Limited announced that the Board of Directors of the Company at its meeting held on June 27, 2012, inter alia, has recommended the payment of Dividend on Equity Shares of the Company for the Financial Year Commencing on April 01, 2011 upto March 31, 2012, to the equity shareholders at INR1.55 per Equity Share of the face value of INR1 each i.e. 155% per share subject to shareholders and other approvals. The Dividend on the Equity Shares, will be paid/dispatched to the Company’s Equity Shareholders, on September 15, 2012 and the warrants will be made encashable at par in accordance of arrangement made by the Company with the Bankers as per guidelines of Reserve Bank of India. The Company also announced that on June 27, 2012 has completed issuance of Secured Redeemable Non-convertible Debentures amounting to INR1,500 Crores(INR15 billion) on Private Placement basis at the coupon of 9.55% PA. The Committee of Directors in their meeting held on June 27, 2012, approved the allotment of 15,000 Secured Redeemable Non-convertible Debentures on Private Placement basis, having the face value of INR10,00,000 each to the eligible Investors, in accordance with SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and other relevant laws. The proceeds will be used, for general, business purposes including capital expenditure, working capital, refinancing of existing debt.
Latest Developments for Hindalco Industries Ltd
- Odisha Pollution Control Board Orders Shutdown Of HindalCo Industries Ltd's Power Unit-The Economic Times
- Hindalco Industries Limited Planning To Raise INR9,000 Crore (INR90 Billion) For Odisha Greenfield Project-The Economic Times
- Hindalco Industries Limited Announces Issuance Of Secured Redeemable Non-convertible Debentures On Private Placement basis
- India's Hindalco Industries Limited To Raise INR30 Billion Via Bonds At 9.55%-Reuters
- Share this
- Digg this