Hindustan Copper said that its board has approved a proposal to raise funds via qualified institutional placement of equity shares and issue of non-convertible debentures.
The board has approved the issuance of up to 9,69,76,680 equity shares of face value of Rs 5 each of the company in one or more tranches.
It has also accorded its approval to the issue of secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs 500 crore.
The company will seek shareholders' approval for the same at the ensuing AGM.
Hindustan Copper is engaged in the exploration, exploitation, and mining of copper and copper ore, including beneficiation of minerals, smelting, and refining. As of 31 March 2022, the Government of India holds 66.14% in the company.
The company reported a consolidated net profit of Rs 88.99 crore in the quarter ended March 2022 as against net loss of Rs 36.81 crore during the previous quarter ended March 2021. Sales during the quarter rose 4.45% YoY to Rs 545.46 crore.
The scrip rose 0.46% to currently trade at Rs 87.55 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app