Held on 29 October 2020
The Board of Hindustan Copper at its meeting held on 29 October 2020 has decided as follows:(i) The Board recommended seeking shareholders' approval for (a) fixing of upper limit of borrowing not exceeding RS.2,500 crore for all types of borrowings/ loans including bonds across various products, together with interest and creation of security/charge on assets of the Company and (b) revalidation of shareholders' approval for issuance of securities through Qualified Institutional Placement (QIP) up to 15% of existing paid up equity capital of the Company;
(ii) The Board recommended to the Ministry of Mines, Government of India to modify object clause of the QIP from 'expansion/capex plan' to 'general corporate purpose including ongoing expansion/ capex plan'.
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