Hindalco Industries, the flagship company of the Aditya Birla group, today announced that its board has approved raising of investment limit of foreign institutional investors (FIIs) to 40%.
Further, its board has also approved raising of long term finance by way of qualified institutional placement (QIP) / global depository receipts (GDRs) and / or other securities with or without green shoe option up to Rs 29 billion instead of earlier approval of Rs 24 billion.
The approval of shareholders for the aforesaid decision is yet to be obtained.
Hindalco Industries has a 51% shareholding in Aditya Birla Minerals which has mining and exploration activities focused at the Nifty copper operation and the Mt Gordon copper operation in Australia.
Hi rvk41, Indian Promoters has 36.10% holding. As per your messages the board has approved raising of investment limit of foreign institutional investors (FIIs) to 40%. What is your opinion about the effect after implementation of above limit.
| NIFTY 
