Vedanta Plans To Raise Up To Rs 1,000 Cr Via NCDs

The company is holding a meeting of its duly constituted committee of the directors next week, Vedanta Ltd said in a filing to the BSE.

Vedanta Ltd on Wednesday said it plans to raise up to Rs 1,000 crore through non-convertible debentures (NCDs).

In this regard, the company is holding a meeting of its duly constituted committee of the directors next week, Vedanta Ltd said in a filing to the BSE.

”The company proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 1,000 crore,” the filing said.

The above issuance is pursuant to the board of directors’ resolutions passed at their meeting held on May 7, 2019, and October 3 last year.

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.

(PTI)

Source: Business World

By AlJazeera