Vedanta to raise up to Rs 2,500 cr via debentures

Vedanta Ltd on Wednesday said a committee of its directors has approved raising up to Rs 2,500 crore through non-convertible debentures (NCDs). "The duly authorized committee of directors at its meeting held today...considered and approved offering for subscription, on a private placement basis, up to 25,000 nos. secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) of face value Rs 10,00,000 each aggregating up to Rs 2,500 crore (including the option to retain oversubscription of up to Rs 1,250 crore," the company said in a filing to BSE.

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