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Directors’ panel of Vedanta approves raising of Rs1000 cr through NCDs.

By StartupStory | December 28, 2021

Vedanta Ltd, mentioned in its BSE filing that a committee of directors has approved raising up to Rs 1,000 crore through non-convertible debentures (NCDs) on private placement basis.

“The duly authorised committee of directors at its meeting …considered and approved offering for subscription, on a private placement basis, up to 10,000 nos secured, rated, listed, redeemable, NCDs aggregating up to Rs 1,000 crore,” the filing said.

Vedanta, a subsidiary of Vedanta Resources Ltd, is one of the world’s leading oil & gas and metals companies with 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 Anil Agarwal-led mining group Vedanta Resources had recently withdrawn cases against the government in the Delhi High Court and before an international arbitration tribunal to settle a ₹20,495 crore retrospective tax dispute.

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Directors’ panel of Vedanta approves raising of Rs1000 cr through NCDs.

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