Vedanta to raise Rs 4,089 crore through debentures

Mumbai (Maharashtra) [India], June 4 (ANI): Vedanta Limited said on Saturday it will raise up to Rs 4,089 crore through non-convertible debentures (NCDs) on a private placement basis.

In a regulatory filing to the stock exchanges, Vedanta Limited said that the "duly authorised Committee of Directors at its meeting held today i.e. Saturday, June 04, 2022, considered and approved offering for subscription, on a private placement basis, up to 40,890 nos. Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10,00,000/- each aggregating up to Rs 4,089 crore."

Tenure of the instrument will be 10 years from the deemed date of allotment.

The debentures will be redeemed at par on the maturity date, Vedanta Limited said.

Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil, and gas. (ANI)

Source: BUSINESS