Vedanta Raises Rs 3,400 Crore Via NCDs
The company has duly allotted, on a private placement basis, 3.4 lakh NCDs with a face value of Rs 1 lakh each.
Vedanta Ltd. has raised Rs 3,400 crore through private placement of non-convertible debentures.
The company has duly allotted, on a private placement basis, 3.4 lakh NCDs with a face value of Rs 1 lakh each, it said in its exchange filing on Wednesday.
Billionaire Anil Agarwal's Vedanta also said that the depository confirmation for credit of NCDs was received on Jan. 3.
The mining conglomerate had approved raising Rs 3,400 crore via NCDs and formed a committee of directors for the same on Dec. 19, 2023.
Vedanta Resources Ltd., the U.K.-headquartered parent company of Vedanta Group, had said last month that it secured a $1.25-billion loan from private lenders to refinance part of its $3.2-billion debt maturing in 2024 and 2025.
Shares of Vedanta closed 2.83% higher at Rs 263.80 apiece on the NSE, as compared with a 0.69% decline in the benchmark Nifty 50.
