Vedanta to raise Rs 500 crore through debentures

7 Dec 2022 , 09:24 AM

Vedanta Limited announced on Tuesday that it is considering issuing debentures worth up to Rs500 crore. The amount will be raised in one or more tranches by the oil-to-metals conglomerate.

Vedanta stated in a BSE filing, “the company proposes to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures in one or more tranches of up to Rs 500 crore and, in this regard, is holding a meeting of its duly constituted Committee of the Directors on Friday.”

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is a leading oil and gas and metals company with operations in India, South Africa, and Namibia in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium, and power.

At around 9.26 AM, Vedanta was trading at Rs314 down by 0.1% from its previous closing of Rs314.30 on the BSE. The scrip opened at Rs314.05 and touched intraday high and low of Rs315.05 and Rs313 respectively.

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