Aluminium maker Hindalco Industries plans to launch a USD 500 million to USD 600 million share sale to institutions at Rs 130 to 132 a share, two sources with direct knowledge of the deal said on Monday.
Bank of America Merrill Lynch, Citigroup and HSBC are among the arrangers, said the sources, who spoke on condition of anonymity.
On Monday, Hindalco shares closed down 0.4% at Rs 133.80 in a Mumbai market that rose 0.9%.
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