Aditya Birla group may pick up half of Hindalco issue
Kumaramangalam Birla and his group’s 14 investment companies that own 31.43% in Hindalco, can increase their stake to 37% if they buy the unsold shares
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The Hindalco Mgmt is not at all investor friendly. In one case they are deliberately avoiding issuing rights shares to the legatee of a deceased and insisting for a probate when it is not required by law in cases of transmission. Am sure they will allott the same to themselves. It is a pity that an industrialist of Kumarmangalam Birla`s repute is leading such a team.
umesh