India Hindalco to sell up to $600 mln shrs-sources
MUMBAI, Nov 23 (Reuters) - Indian aluminium maker Hindalco Industries Ltd (HALC.BO: Quote, Profile, Research) plans to launch a $500 million to $600 million share sale to institutions at 130 to 132 rupees a share, two sources with direct knowledge of the deal said on Monday.
Bank of America Merrill Lynch (BAC.N: Quote, Profile, Research), Citigroup (C.N: Quote, Profile, Research) and HSBC (HSBA.L: Quote, Profile, Research) are among the arrangers, said the sources, who spoke on condition of anonymity.
On Monday, Hindalco shares closed down 0.4 percent at 133.80 rupees in a Mumbai market that rose 0.9 percent. (Reporting by Narayanan Somasundaram & Nishant Kumar; Editing by John Mair) ((narayanan.somasundaram@thomsonreuters.com; 91 22 6636 9068; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))
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