Non-convertible debentures (NCDs) are fixed income securities that is listed with stock exchanges, like BSE and NSE in India.
The valuation of the company was estimated to be up to $3 billion.
The scheme is a fixed maturity fund and will invest in debt securities like Corporate Bonds, Non-convertible Debentures and Government Securities have Low volatility with minimal churn.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Acquisition done for Rs 18.45 crore.
The Scheme will dynamically allocate its net assets to equity and equity related securities and debt instruments.
Vedanta is the parent company of Hindustan Zinc.
Floor price for the offer-for-sale set at Rs 2,450 per share.
The investment strategy of the Scheme will be to invest in a basket of securities forming part of Nifty 100 Low Volatility 30 Index in similar weight proportion.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.