Hindalco Industries Ltd has informed BSE that the Board of Directors of the Company vide Circular Resolution approved raising of investment limit of Foreign Institutional Investors (FIIs) to 40% subject to the necessary approval of the Shareholders of the Company.
Board has also approved raising of long term finance by way of Qualified Institutional Placement (QIP) / Global Depository Receipts and / or other Securities with or without Green Shoe Option upto Rs. 2,900 Crores instead of earlier approval of Rs. 2,400 Crores.
The Company has called an Extra Ordinary General Meeting on November 17, 2009 for the purpose of approval of the aforesaid items.
| NIFTY 
