Hindalco board approves USD 830 mn fund-raising plan

Metals producer Hindalco Industries' board has approved a plan to raise up to Rs 50 billion ($829.5 million) by selling shares to institutions or through other options.

Hindalco, one of the country's leading aluminium and copper producers, is part of the Aditya Birla conglomerate.

Indian companies are expected to raise billions of dollars this year through share sales, riding on a surge in the stock market and an anticipated economic recovery.

(Reuters)