Vedanta Plans Rs 2,500 Crore Non-Convertible Debentures Issue

By siliconindia  |  Thursday, 04 April 2024, 06:21:02 PM IST

Vedanta Plans Rs 2,500 Crore Non-Convertible Debentures Issue
Vedanta Limited, a prominent Indian conglomerate, is planning to raise up to Rs 2,500 crore through non-convertible debentures. The company's authorized Committee of Directors has approved the issuance of up to 2,50,000 senior, secured, rated, listed, redeemable, non-convertible debentures, each with a face value of Rs 1,00,000. This fundraising will be conducted on a private placement basis, in one or more tranches. Following this announcement, Vedanta's shares surged by nearly 4 percent in trading. 
In parallel, Vedanta Aluminium, the largest producer of aluminum in India, is aggressively expanding its operations. The company aims to become one of the top three global players by reaching a production capacity of 3 million tonnes per annum (MTPA). As part of this expansion strategy, Vedanta successfully commissioned a new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha. 
This expansion marks a significant milestone towards achieving complete vertical integration, with the company aiming to enhance its nameplate capacity from the existing 2 MTPA to 5 MTPA at the Lanjigarh refinery. Vedanta's strategic moves indicate a robust trajectory of growth and consolidation within the aluminum sector, showcasing its commitment to expanding its footprint and enhancing its competitive positioning in the global market.
 

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