Hindustan Copper Ltd board approves QIP of Rs. 1400 crore

The Board of Hindustan Copper Ltd in its meeting held on 26.7.2018 reviewed the status of proposal regarding issue of equity shares by Qualified Institutional Placement (QIP) method and recommended to raise capital by issue of fresh shares through QIP up to 13,87,82,700 equity shares (i.e. 15% of existing paid up equity capital) by the Company. However, the total funds to be raised through QIP method would remain the same as earlier informed to the Exchange vide letter of even number dated 31.1.2018 i.e. an amount not exceeding Rs.1400 crore or USD 217 million, wherever is higher.

Shares of HINDUSTAN COPPER LTD. was last trading in BSE at Rs.60 as compared to the previous close of Rs. 58. The total number of shares traded during the day was 281806 in over 1379 trades.

The stock hit an intraday high of Rs. 61 and intraday low of 58.15. The net turnover during the day was Rs. 16772486.

Source : Equity Bulls

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