Gujarat Copper Project (GCP) of state-owned Hindustan Copper Ltd. at Jhagadia in Gujarat.
| Photo Credit: PTI
State-owned Hindustan Copper on May 11 mentioned it plans to raise around ₹548 crore by means of numerous monetary routes.
A proposal on this regard will probably be taken up on the firm’s board assembly subsequent week on May 19, 2023.
In a regulatory submitting, the corporate mentioned its board will take into account the “recommendation for seeking approval of shareholders to raise funds by issue of equity shares through qualified institutional placement method to the extent of 9,69,76,680 equity shares of face value of ₹5 each of the company in one or more tranches”.
The board may even search approval of shareholders to provide, challenge and allot secured or unsecured non-convertible debentures or bonds on non-public placement foundation up to ₹500 crore, it mentioned.
Under the Ministry of Mines, Hindustan Copper is the nation’s solely vertically built-in copper-producing firm because it manufactures copper proper from the stage of mining to beneficiation, smelting, refining and casting of refined copper steel into downstream saleable merchandise.
Its mines and crops are unfold throughout 5 items, one every in Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra, and Gujarat.
