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The new term will last from April 1, 2025, to March 31, 2030, subject to shareholder approval.
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The company said that the board also approved the general information document, key information document, and term sheet for the proposed issue.
The said transaction is categorised as a related-party transaction, and has been conducted on an arm’s-length basis, said the company.
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Commenting on Vedanta’s departure from the steel sector, Agarwal highlighted that steel was never a key business for the company.
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The transaction's total sale value is estimated to be around ₹2,353 crore. The transaction will earn a marketing fee of 1% of the total value of the sale for NBCC.
The project was carried out by Adani Green Energy Twenty Four Ltd, a 100% step-down subsidiary of AGEL.
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