The amount will be used to fund the payout for the voluntary retirement scheme (VRA), which is likely to cost over Rs 200 crore.
The interim dividend will be paid to the shareholders whose names appear on the register of members of the company on record date.
The backers of first fund, Abu Dhabi Investment Authority, Singapore's GIC and family office Premji Invest have committed to invest in the second fund also.
Vedanta will soon announce a new CFO.
Total dividend payment will be Rs 7,621 crore.
The investment objective of the Scheme is to provide returns before expenses that correspond to the returns of Nifty 8-13 yr G-Sec Index.
The business noted that April 7, 2023, has been set as the record date for establishing the equity shareholders' eligibility for the dividend if announced.
Vedanta is the parent company of Hindustan Zinc.
Record date for the dividend set at 29th March.
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.