Vedanta to raise up to Rs 1,000 crore via debentures

Vedanta Limited to Raise Up to ?1,000 Crore Through Debenture Issuance

New Delhi: Vedanta Limited, a prominent mining conglomerate, announced on Thursday its plans to raise up to ?1,000 crore through the issuance of non-convertible debentures (NCDs).

In a regulatory filing, the company stated that its board of directors has approved the issuance of 100,000 secured, rated, listed, redeemable non-convertible debentures, each with a face value of ?1,00,000, totaling ?1,000 crore. The debentures will be offered on a private placement basis.

"The duly constituted committee of directors has sanctioned the allotment of these debentures, which are expected to bolster the company's financial position and support its ongoing and future projects," the filing read.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, stands as one of the world's leading natural resources companies. The conglomerate operates across multiple continents, including India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan, and Japan. Its extensive operations span various sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminum, power, and glass substrates. Additionally, Vedanta is making strides into emerging fields such as semiconductors and display glass.

The funds raised through this debenture issuance are anticipated to provide significant capital for the company's expansion plans and enhance its operational capabilities across its diverse portfolio.