FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai | Photo: Reuters
Vedanta Ltd on Wednesday said a committee of its directors has approved raising up to Rs 2,500 crore through non-convertible debentures (NCDs).
"The duly authorised committee of directors at its meeting held today...considered and approved offering for subscription, on a private placement basis, up to 25,000 nos. secured, rated, non cumulative, redeemable, non-convertible debentures (NCDs) of face value Rs 10,00,000 each aggregating up to Rs 2,500 crore (including the option to retain oversubscription of up to Rs 1,250 crore," the company said in a filing to BSE.
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.
The company has presence across India, South Africa, Namibia, Australia and Ireland.