Vedanta may raise debt through private placement of debentures

11 Apr 2023 , 11:02 AM

Vedanta Ltd has announced that it will convene a meeting on April 13, 2023, to discuss the possibility of issuing non-convertible debentures (NCDs) through private placement.

In a regulatory filing, Vedanta stated that it plans to convene a meeting of its Committee of Directors on April 13, 2023, to discuss the issuance of Non-Convertible Debentures on a private placement basis.

In Q4 of FY23, Vedanta’s aluminium production was reported at 574,000 tonnes, which was lower than its production of 572,000 tonnes in the same quarter of the previous fiscal year. However, there was a slight increase of 1% in production compared to the preceding quarter (Q3FY23) when it produced 566,000 tonnes.

Vedanta announced that it has cleared all its debt obligations that were scheduled for repayment until March this year, thereby reducing its debt by $2 billion in the last 11 months. The company expressed confidence that it will be able to meet its liquidity requirements for the quarter ending in June 2023.

At around 10.58 AM, Vedanta was trading 0.57% higher at Rs 271.45, as compared to the previous closing price of Rs 269.90 on NSE. The counter opened at Rs 273.

For feedback and suggestions, write to us at [e-mail]