Vedanta's committee of directors approves raising Rs 2k cr via NCDs

Vedanta Ltd on Wednesday said that its committee of directors has approved raising up to Rs 2,000 crore via non-convertible debentures. "Committee of directors at its meeting held today...considered and approved offering for subscription, on a private placement basis...redeemable, non-convertible debentures (NCDs) of face value Rs 10,00,000 each aggregating up to Rs 2,000 crore in one or more tranches," Vedanta Ltd said in a filing to the BSE.

Vedanta Ltd is a diversified natural resources company whose business primarily involves producing oil and gas, zinc-lead-silver, copper, iron ore, aluminium and commercial power. The company has presence across India, South Africa, Namibia, Australia and Ireland.

Vedanta is the Indian subsidiary of Vedanta Resources Plc, a London-listed company.