Home / Companies / News /  Vedanta to consider raising 500 cr via NCDs on Friday

Anil Agarwal-led mining giant Vedanta on Tuesday said the company is considering raising up to 500 crore via debentures on a private placement basis.

The oil-to-metals conglomerate will offer "rated, unsecured, redeemable, non‐cumulative, non‐convertible debentures" in one or more tranches, the company informed the stock exchanges.

"We would like to inform you that the Company proposes to offer Rated, Unsecured, Redeemable, Non‐Cumulative, Non‐Convertible Debentures aggregating upto 500 Crores in one or more tranches and in this regard, is holding a meeting of its duly constituted Committee of the Directors on Friday, December 09, 2022. The above issuance is pursuant to the Board of Directors’ resolutions passed at their meeting held on May 07, 2019, October 03, 2020 and July 06, 2022," according to the filing.

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

On Tuesday, shares of Vedanta Ltd closed 1.52% lower at 314.40 apiece on the NSE.

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