Hindalco Industries Ltd. said on Thursday that its Board of Directors at a meeting held on February 9, has approved the issuance of up to 150mn warrants to Promoters / Promoter Group Companies on a preferentia1 allotment basis.
The holder(s) of each Warrant will be entitled to apply for and obtain allotment of one equity share against such Warrant, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable relevant laws.
The price will be arrived in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
The Board also approved calling an Extra-Ordinary General Meeting (EGM) on March 7 for the aforesaid purpose.