Vedanta gets board approval to raise Rs 2,500 crore through issue of NCDs

22 Sep 2023 , 10:30 AM

Vedanta Ltd’s board of directors approved a Rs 2,500 crore fund raise via private placement of non-convertible debentures, on Thursday.

A decision in this regard was made at the company’s Committee of Directors meeting, according to Vedanta Ltd in a regulatory filing.

On Thursday, the Committee of Directors considered and approved raising, on a private placement basis, up to 2,50,000 secured, unrated, unlisted, redeemable, non convertible debentures of face value Rs 1,00,000 each, aggregating upto Rs 2,500 crore in one or more tranche(s), according to the company’s statement with the bourses.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, operates in oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminum, and electricity in India, South Africa, and Namibia.

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