Vedanta to Raise Up To ₹2,500 Crore Through Bond Issuance

5 Apr 2024 , 10:35 AM

Vedanta Limited notified bourses on April 4 that its board of directors had approved funding up to ₹2,500 Crore through private placements of non-convertible debentures (NCDs).

“The Committee of Directors at its meeting held on April 4, 2024, considered and approved for raising, on a private placement basis, up to 2,50,000 senior, secured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value of 1,00,000 each, aggregating up to ₹2,500 Crore in one or more tranche,” the business stated.

According to a top company executive at an investor event in March, the mining giant has more than 50 active projects and expansions in its pipeline to fuel growth. These are expected to create additional revenue of over $6 billion and an additional $2.5-3 billion of annual EBITDA upon completion.

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