New Delhi, Jun 30 (PTI) State-owned Hindustan Copper on Thursday said that its board has suggested seeking shareholders' approval to raise up to Rs 500 crore through debentures.

The board has also recommended taking the approval of the shareholders in the ensuing annual general meeting for raising funds by issue of equity shares through Qualified Institutional Placement.

Also Read | Mozilla Firefox's New Feature Automatically Removes Tracking From URLs: Report.

"The board of directors of Hindustan Copper Ltd ...has recommended seeking approval of the shareholders in the ensuing AGM to authorise the board... to offer, issue and allot secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs 500 crore," the state-owned company said in a filing to BSE.

Hindustan Copper Ltd, under the administrative control of the ministry of mines, is vertically integrated copper producing company which manufactures copper from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.

Also Read | Who is Eknath Shinde? Here’s All About The Shiv Sena Leader Who is Set to Take Oath as The Next CM of Maharashtra.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)