Vedanta to raise Rs 2,100 crore through debentures

17 Apr 2023 , 10:38 AM

Vedanta in its exchange filing has said that its board has approved the issuing of non-convertible debentures (NCDs) worth up to Rs. 2,100 crore on a private placement basis.

“Pursuant to the provisions of Regulations 30 and 51 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations’) read with Para A of Part A of Schedule III of the Listing Regulations, we hereby inform that the duly authorized Committee of Directors at its meeting held today i.e., Thursday, April 13, 2023, considered and approved for raising, on a private placement basis, up to 21,000 nos. Secured, Unrated, Unlisted, Redeemable, Non‐Convertible Debentures (“NCDs’) of face value ₹10,00,000/‐ each aggregating up to ₹2,100 Crores in one or more tranche(s),’, said the company in its BSE filing.

On Thursday, the shares of Vedanta closed on the NSE at Rs 276 apiece level, up by 0.15% from the previous close of Rs 275.60. On Monday, at 10.40 AM, the shares of the company are trading at Rs 277.80 up by 0.76% from previous close.