India's Hindalco plans raising up to $630 mln

MUMBAI, Oct 15 (Reuters) - Hindalco Industries, India's top aluminium maker, said on Thursday its board had approved raising up to 29 billion rupees ($630 million) through qualified institutional placements or issue of depositary receipts or other securities. The company had earlier planned to sell shares up to $500 million. Its board has also approved raising the investment limit for foreign institutional investors to 40 percent, the company said in a statement. ($1=45.9 rupees) (Reporting by Prashant Mehra)