India Hindalco selling up to $600 mln shrs-sources

MUMBAI, Nov 23 - Indian aluminium maker Hindalco Industries Ltd is selling new shares worth $350 million to institutions at 130.9 rupees a share with a greenshoe option for an additional $250 million, two sources with direct knowledge of the deal said on Monday. On Monday, Hindalco shares closed down 0.4 percent at 133.80 rupees in a Mumbai market that rose 0.9 percent. Bank of America Merrill Lynch , Citigroup and HSBC are among the arrangers, said the sources, who spoke on condition of anonymity. (Reporting by Narayanan Somasundaram & Nishant Kumar; Editing by John Mair) ((narayanan.somasundaram@thomsonreuters.com; 91 22 6636 9068; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))