Vedanta plans to raise Rs 4,500 cr via NCDs

Metals and mining giant Vedanta Ltd today said it is planning to raise Rs 4,500 crore by issuing non-convertible debentures.

"We would like to inform you that the company proposes to offer Rated, Secured, Redeemable, Non-Cumulative, Non-Convertible Debentures aggregating up to Rs 4,500 crore, in one or more tranches," Vedanta Ltd said in a BSE filing today.

In this regard, the company will hold a meeting of its duly constituted Committee of the Directors on March 23, 2018.

"The...issuance is pursuant to the approval of the shareholders passed vide special resolution at the 52nd Annual General Meeting of the company held on July 14, 2017 and the Board of Directors' resolution passed at their meeting held on January 31, 2018," it added.

Vedanta Limited, a Vedanta Group company is a global diversified natural resources company, with operations across zinc-lead-silver, oil and gas, iron ore, copper, aluminium and commercial power.