Hind Copper: Eyes on fund-raising

Hindustan Copper will remain in focus, as the Cabinet on Wednesday approved a fresh issue of equity shares to raise ₹900.60 crore. Hindustan Copper will issue 13.87 crore fresh shares, to the extent of 15 per cent of the paid-up capital, which will bring down the government stake in the company to 66.13 per cent from the current 76.05 per cent. It will use the proceeds of the QIP to meet its expansion/capex plan. Shareholders of Hindustan Copper will closely monitor the development.