DRAFT RED HERRING PROSPECTUS

Dated September 25, 2010

Please read section 60B of the Companies Act, 1956, as amended

Book Built Issue

HINDUSTAN COPPER LIMITED Our Company was incorporated as a Government company as Hindustan Copper (Private) Limited on November 9, 1967, under the Companies Act, 1956, as amended (the Companies Act). Subsequently,

our Company became a public limited company pursuant to a shareholders resolution dated February 27, 1968 and the name of our Company was changed to Hindustan Copper Limited and our Company

received a fresh certificate of incorporation on March 26, 1968.

Registered and Corporate Office: Tamra Bhavan, 1, Ashutosh Chowdhury Avenue, Kolkata 700 019, India; Tel.: + (91 33) 2283 2224/2226; Fax: + (91 33) 2283 2478/2640; Website:

www.hindustancopper.com; Deputy General Manager, Company Secretary and Compliance Officer: C. S. Singhi; E-mail: investors_cs@hindustancopper.com.

For details of changes in the registered office of our Company, see History and Certain Corporate Matters on page 114.

Promoter: President of India, acting through the Ministry of Mines, Government of India (the MoM)

PUBLIC ISSUE OF 185,043,600 EQUITY SHARES OF ` 5 EACH (EQUITY SHARE) FOR CASH AT A PRICE OF ` [] PER EQUITY SHARE OF HINDUSTAN COPPER LIMITED (THE COMPANY) AGGREGATING ` [] MILLION (HEREINAFTER REFERRED TO AS THE ISSUE). THE ISSUE COMPRISES A FRESH ISSUE OF 92,521,800 EQUITY SHARES BY OUR COMPANY (THE FRESH ISSUE) AND AN OFFER FOR SALE OF 92,521,800 EQUITY SHARES (THE OFFER FOR SALE) BY THE PRESIDENT OF INDIA, ACTING

THROUGH THE MINISTRY OF MINES, GOVERNMENT OF INDIA (THE SELLING SHAREHOLDER). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF UP TO

183,970,000 EQUITY SHARES (THE NET ISSUE) AND A RESERVATION OF 1,073,600 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREIN)

(THE EMPLOYEE RESERVATION PORTION). THE ISSUE WOULD CONSTITUTE 18.18% OF THE POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY AND THE NET

ISSUE WOULD CONSTITUTE 18.08% OF THE POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS ` 5 EACH.

THE PRICE BAND AND THE MINIMUM BID LOT WILL BE DECIDED BY OUR COMPANY AND THE SELLING SHAREHOLDER IN CONSULTATION WITH THE BOOK RUNNING

LEAD MANAGERS AND ADVERTISED IN ALL EDITIONS OF [], AN ENGLISH NATIONAL DAILY NEWSPAPER, ALL EDITIONS OF [], A HINDI NATIONAL DAILY NEWSPAPER

AND [] EDITION OF [], A BENGALI NEWSPAPER, EACH WITH WIDE CIRCULATION, AT LEAST ONE (1) WORKING DAY PRIOR TO THE BID OPENING DATE.*

*Discount of up to 5% of the Issue Price determined pursuant to completion of the Book Building Process may be offered to Eligible Employees (the Employee Discount) and to Retail Individual Bidders

(the Retail Discount)

THE FACE VALUE OF THE EQUITY SHARE IS ` 5 EACH

In case of revision in the Price Band, the Bidding Period will be extended for at least three additional Working Days after the revision of the Price Band subject to the Bidding Period not exceeding 10

Working Days. Any revision in the Price Band and the revised Bidding Period, if applicable, will be widely disseminated by notification to the Bombay Stock Exchange Limited (the BSE) and the

National Stock Exchange of India Limited (the NSE), by issuing a press release, by indicating the change on the websites of the Book Running Lead Managers (BRLMs) and at the terminals of the

Syndicate and by intimation to Self Certified Syndicate Banks (SCSBs).

This Issue is being made through the Book Building Process wherein up to 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs), (QIB Portion)

provided that our Company and the Selling Shareholder in consultation with the BRLMs may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis, out of which at least one-

third will be available for allocation to domestic mutual funds only (Anchor Investor Portion). For details, see Issue Procedure on page 243. Further, 5% of the QIB Portion (excluding Anchor

Investor Portion) will be available for allocation on a proportionate basis to Mutual Funds only. The remainder will be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to

valid Bids being received from them at or above the Issue Price. In addition, not less than 15% of the Net Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and not

less than 35% of the Net Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, 1,073,600 Equity

Shares will be available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received from them at or above Issue Price. Any Bidder may participate in this Issue

through the ASBA process by providing the details of the ASBA Accounts in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks (SCSBs). For details in this

regard, specific attention is invited to Issue Procedure on page 243.

GENERAL RISKS

Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors

are advised to read the risk factors carefully before taking an investment decision in this Issue. For taking an investment decision, investors must rely on their own examination of our Company and the

Issue including the risks involved. The Equity Shares offered in the Issue have not been recommended or approved by the Securities and Exchange Board of India (SEBI), nor does SEBI guarantee the

accuracy or adequacy of this Draft Red Herring Prospectus. Specific attention of the investors is invited to the Risk Factors on page xiii.

ISSUERS ABSOLUTE RESPONSIBILITY

Our Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Red Herring Prospectus contains all information with regard to our Company and the Issue,

which is material in the context of the Issue, that the information contained in this Draft Red Herring Prospectus is true and correct in all material aspects and is not misleading in any material respect, that

the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which make this Draft Red Herring Prospectus as a whole or any of such information or the

expression of any such opinions or intentions misleading in any material respect.

LISTING

The Equity Shares offered pursuant to this Draft Red Herring Prospectus are proposed to be listed on the BSE and the NSE. We have received the in-principle approvals of the BSE and the NSE for the

listing of our Equity Shares pursuant to letters dated [] and [], respectively. For the purposes of this Issue, the Designated Stock Exchange is the [].

BOOK RUNNING LEAD MANAGERS

ICICI SECURITIES LIMITED

ICICI Centre, H.T. Parekh Marg, Churchgate

Mumbai 400 020, India

Tel: + (91 22) 2288 2460

Fax: + (91 22) 2282 6580

E-mail: hcl.fpo@icicisecurities.com

Investor Grievance E-mail:

customercare@icicisecurities.com

Website: www.icicisecurities.com

Contact Person: Mr. Mrigesh Kejriwal / Mr. Sumit Agarwal

SEBI Registration No.: INM000011179

ENAM SECURITIES PRIVATE LIMITED

801/802, Dalamal Towers, Nariman Point

Mumbai 400 021, India

Tel: + (91 22) 6638 1800

Fax: + (91 22) 2284 6824

E-mail: hindustancopper.fpo@enam.com

Investor Grievance E-mail: complaints@enam.com

Website: www.enam.com

Contact Person: Mr. Anurag Byas

SEBI Registration No.: INM000006856

KOTAK MAHINDRA CAPITAL COMPANY

LIMITED

1st Floor, Bakhtawar, 229, Nariman Point

Mumbai 400 021, India

Tel: + (91 22) 6634 1100

Fax: + (91 22) 2284 0492

E-mail: hcl.fpo@kotak.com

Investor Grievance E-mail: kmccredressal@kotak.com

Website: www.kmcc.co.in

Contact Person: Mr. Chandrakant Bhole

SEBI Registration No.: INM000008704 BOOK RUNNING LEAD MANAGERS REGISTAR TO THE ISSUE

SBI CAPITAL MARKETS LIMITED

202, Maker Tower E, Cuffe Parade

Mumbai 400 005, India

Tel: + (91 22) 2217 8300

Fax: + (91 22) 2218 8332

E-mail: hcl.fpo@sbicaps.com

Investor Grievance E-mail: investor.relations@sbicaps.com

Website: www.sbicaps.com

Contact Person: Mr. Nithin Kanuganti

SEBI Registration No.: INM000003531

UBS SECURITIES INDIA PRIVATE LIMITED

2/F, 2 North Avenue Maker Maxity

Bandra Kurla Complex, Bandra (E)

Mumbai 400 051, India

Tel: + (91 22) 6155 6100

Fax: + (91 22) 6155 6292

E-mail: customercare@ubs.com

Investor Grievance E-mail: customercare@ubs.com

Website:www.ubs.com/indianoffers.com

Contact Person: Mr. Ashish Mukkirwar

SEBI Registration No.: INM000010809

KARVY COMPUTERSHARE PRIVATE LIMIED

Plot No. 17 - 24, Vithalrao Nagar

Madhapur

Hyderabad 500 086, India

Tel : + (91 40) 2342 0815-20

Fax : + (91 40) 2342 0814

E-mail: einward.ris@karvy.com

Invest Grievance E-mail: einward.ris@karvy.com

Website: www.karvy.com

Contact Person: Mr. Murali Krishna

SEBI Registration No: INR000000221

BIDDING PROGRAM*

BID OPENS ON BID CLOSES ON

[] []

* Our Company and the Selling Shareholder may consider par