IFLR1000

Hindalco Industries $500 million share issue

2/3/2017
Share offer
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$ 500 million

Announced

2/3/2017

Overview:

  • Hindalco Industries (Hindalco), the metals flagship of leading Indian conglomerate Aditya Birla Group, has successfully completed a $500 million placement of 176.83 million shares.
  • The issuance was three times oversubscribed.
  • The proceeds will be used to reduce debt and provide funds for strategic acquisitions.
  • Bank of America Merrill Lunch, Axis Capital, Citigroup Global Markets India, JM Financial Institutional Securities and SBI Capital Markets were the bookrunners and lead managers.

Wai Yee Tsang - Journalist

Jurisdiction:

India

Deal type:

Share offer

Practice area:

Capital markets : Equity

Industry sector:

Mining

Firms:
Khaitan & Co

Party: Hindalco Industries (Issuer)

Lawyers: Abhimanyu Bhattacharya, Sudhir Bassi

Milbank

Party: Bank of America Merrill Lynch (Bookrunner, Lead manager)

Party: Axis Bank (Lead manager, Bookrunner)

Party: Citigroup (Lead manager, Bookrunner)

Party: JM Financial (Bookrunner, Lead manager)

Party: SBI Capital Markets (Bookrunner, Lead manager)

Lawyer: James Grandolfo

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