Vedanta Ltd Plans Rs 1,000 Crore Debenture Issue for Expansion

On Thursday, mining conglomerate Vedanta Ltd announced its plan to raise up to Rs 1,000 crore through the issuance of debentures. The company stated in a regulatory filing that its directors have approved the allotment of 100,000 non-convertible debentures, totaling Rs 1,000 crore on a private placement basis.

The filing specified, “The duly constituted committee of directors has approved the allotment of 100,000 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.” Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is a leading natural resources company with operations spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan, and Japan. The company has significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrate, and is foraying into semiconductors and display glass