NCD issue is part of overall debt restructuring of Rs 8000 crore
Vedanta announced that the Company is in the process of issuing Secured, Rated, Non-Cumulative, Redeemable Non-Convertible Debentures (NCDs) of Rs. 10,00,000/- (Rupees Ten Lakhs Only) each upto Rs. 2000 crore on Private Placement basis. The issuance of NCDs is part of the overall 'Debt Refinancing' of the Company to substitute the short term liabilities/borrowings/debt and / or to retire higher cost debt.The NCDs are proposed to be listed on the Bombay Stock Exchange of India (BSE).
This issue is part of the overall approval of Rs.8000 crore by the Board of Directors and by the Shareholders in the 50th AGM of the Company held on 11 July 2015, permitting issuances in one or more series/tranches on private placement basis during a period of 12 months
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