Bachelor's Area

Taking forward its mega Rs 4,500 crore , state-run Hindustan Copper today said it will reopen its closed at , in Jharkhand, by 2013. This is a big news and will really affect share market. Do watch it. :) And also invest before checking, it may lead to fall in the prices also. The move to reopen the mines comes ahead of the company's 20 per cent share sale programme slated for November-December this year, which is expected to raise Rs 4,000 crore. "The Kendadih mines, which have been closed since 2000 will be made operational by March 2013," a company official told PTI. The mines spread across 1140 hectares has 17.84 million tonnes (MT) of ore reserves. The copper major has already invited bids for revival of the mine, he said. HCL has said that it is taking steps to develop new mine in potential copper deposits in the country to enhance output from the current 3.15 million tonnes per annum (MTPA) to 12.5 MTPA in the next five to seven years at a ...

Hindustan Copper has filed initial papers with the market regulator- Securities and Exchange Board of India (SEBI) for a follow-on public offer that could fetch up to $1.8 billion at Monday's closing price. The company will offer around 184 million shares that constitute 18.08 per cent of the post-issue equity, through a book-building process, it said in a statement yesterday. Up to 50% of the Issue shall be allocated on a proportionate basis to qualified institutional buyers, not less than 15% of the Issue shall be available for allocation on a proportionate basis to non- institutional bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to retail bidders. Meanwhile, a discount of up to 5% of the Issue Price determined pursuant to completion of the Book Building Process may be offered to Eligible Employees and to Retail Bidders. The book running lead managers to the issue are ICICI Securities, Enam Securities, Kotak Mahindra...