State-owned Hindustan Copper Limited’s Gujarat Copper Project (GCP) in Jhagadia, Gujarat. , Photo Credit: PTI
State-owned Hindustan Copper said on May 11 that it plans to raise around ₹548 crore through various financial routes.
A proposal in this regard will be taken up in the company’s board meeting next week on May 19, 2023.
In a regulatory filing, the company said its board will consider a “recommendation to seek shareholders’ approval by issuing equity shares through the qualified institutional placement method to the extent of 9,69,76,680 equity shares of face value of Rs 5 each”. each company in one or more parts”.
The board will also seek shareholders’ approval for offering, issuing and allotting secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs 500 crore.
Under the Ministry of Mines, Hindustan Copper is the only vertically integrated copper producer in the country as it manufactures copper from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream salable products.
Its mines and plants are spread across five units, one each in Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat.