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Hindalco To Mop Up Rs 6000 Crore Via NCDs


Kumar Mangalam Birla, after addressing Aditya Birla's 50th AGM suggested that even as the economy is likely to revive, the concerns over trade war worries, spike in crude oil prices and concurrently unabated increase in fuel price and rupee's depreciation for over some time now is weakening the economic outlook.

Hindalco To Mop Up Rs 6000 Crore Via NCDs

The veteran also said that the escalating tensions between the US and China are likely to cast a spill-over impact on India.

In the meet, the company has received shareholder's approval to raise Rs. 6000 crore via non-convertible debentures.

Meanwhile, the company has highlighted that it has prepaid long-term project loans worth Rs. 8000 crore to improve its balance sheet.

Also, for its prime output aluminium the company said that it forecast a better demand outlook over supply.

Read more about: hindalco aditya birla debt ncd
Story first published: Saturday, September 22, 2018, 13:29 [IST]
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