Vedanta board approves plan to raise Rs 2,100 crore via NCDs

Vedanta board approves plan to raise Rs 2,100 cr via NCDs

The committee of directors of mining giant Vedanta Ltd has approved a proposal to raise up to Rs 2,100 crore by issuing non-convertible debentures (NCDs).

The proposal was approved on Thursday during a meeting of its Committee of Directors, Vedanta Ltd said in a regulatory filing.
"Committee of Directors... on April 13, 2023, considered and approved for raising, on a private placement basis, up to 21,000 numbers secured, unrated, unlisted, redeemable, NCDs of face value Rs 10,00,000/ each aggregating up to Rs 2,100 crore in one or more tranche(s)," it added.
It will be issued on a private placement basis, the company said.
Vedanta Ltd, a subsidiary of Vedanta, is a diversified global natural resources company.