Vedanta to raise Rupees 1,000 cr by offering NCDs

By siliconindia  |  Thursday, 23 December 2021, 09:20:19 AM IST

Vedanta to raise Rupees 1,000 cr by offering NCDs

Vedanta Limited, a subsidiary of Vedanta Resources Limited, will raise Rs 1,000 crore by offering "rated, secured, redeemable, non-cumulative, non-convertible debentures" in one or more tranches, the company told the stock exchanges.

In this regard, the oil & gas and metals company will hold a meet of the committee of directors on December 27, 2021. "The above issuance is pursuant to the Board of Directors’ resolutions passed at their meeting held on May 07, 2019, and October 03, 2020," the company stated.

Vedanta Limited has significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.

Anil Agarwal-led mining group Vedanta Resources had recently withdrawn cases against the government in the Delhi High Court and before an international arbitration tribunal to settle an Rs 20,495 crore retrospective tax dispute.

Vedanta Limited is a mining company based in India, with its main operations in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.

The Vedanta Ltd stock closed at Rs 342.00, up Rs 5.15 or 1.53 per cent, on the National Stock Exchange on Wednesday.

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