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MUMBAI: The board of Hindalco Industries Ltd will meet on Friday to consider a proposal to issue shares or equity linked instruments on a preferential basis, the company informed stock exchanges on Thursday. The notice from the Aditya Birla group company, however, did not specify the quantum of shares or to whom it would be issued.

According to analysts, the preferential issue could be made to promoters, who currently hold only 26 per cent, to shore up their stake in the company.

Hindalco recently acquired US company Novelis for $6 billion.

More Stories on : Preferential Allotments | Aluminium | Hindalco Industries Ltd

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Pref issue: Hindalco board meet today

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