Hindalco QIP increased to $600 million

The Indian aluminium producer increases the fixed-price deal from $350 million after strong demand from foreign investors.

Hindalco Industries, India's largest aluminium producer and also one of the leading producers of copper, has raised $600 million from a qualified institutional placement that was upsized by more than 70% following strong demand from foreign investors in particular. The company said it will use the money to fund various aluminium projects and for the acquisition of new assets.   

Hindalco launched the placement late on Monday night at a base size of $350 million, but with the...

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