Hindalco Industries First call for rights issue allotment money

Hindalco Industries Ltd has announced that as per the terms of the Company’s Right Issue of 231,936,993 Equity Shares with a face value of Re 1 each at premium of Rs 95 per Equity Share made between December 2005 to January, 2006. The Allotment is made on February 15, 2006. 25% i.e. Rs 24/- per share is paid along with application money. As per the Terms of the Right Offer, the further 25% of the Issue Price i.e. Rs 24/- per shares is payable any time between 9 to 12 months from the date of Allotment and remaining 50% i.e. Rs 48/- is payable after 18 to 24 months from the date of Allotment.

Further the Company has informed that, the Board of Directors of the Company at its meeting held on October 18, 2006 has decided to make first call i.e. Rs 24/- of the issue price, as per the terms of said offer documents.

Source : Equity Bulls

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