Vedanta to raise up to Rs 1,000 crore via debentures

Vedanta to raise up to Rs 1,000 crore via debentures

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Mining conglomerate Vedanta Ltd on Thursday said it plans to raise up to Rs 1,000 crore through the issuance of debentures.

In a regulatory filing the company said, its directors have approved the allotment of 1,00,000 non-convertible debentures aggregating to Rs 1,000 crore on a private placement basis.

"The duly constituted committee of directors of the company has approved the allotment of 1,00,000 secured, rated, listed, redeemable, non-convertible debentures (NCDs) of face value Rs 1,00,000 each aggregating to Rs 1,000 crore on a private placement basis," the filing said.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies.

Spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate and foraying into semiconductors and display glass.