Hindalco's Australian subsidiary to issue IPO

Mumbai, Apr 10: Aditya Birla Minerals Ltd (Birla Minerals), the wholly owned Australian subsidiary of Hindalco Industries, is set to raise about Ausralian dollars 299 million.

Informing this to Bombay Stock Exchange (BSE), Hindalco said, the company today lodged its prospectus with Australian Securities&Investments Commission (ASIC) for its initial public offering (IPO) to raise Australian dollars 299 million through issue of equity shares.

The issue will open on April 20 and close on May 10 and the shares are being listed on Australian Stock Exchange.

UNI