Vedanta board approves raising Rs 2,500 cr via NCDs on pvt placement basis

Vedanta Ltd board on Thursday approved rasing of Rs 2,500 crore through issuance of non-convertible debentures on private placement basis.

A decision in this regard was taken at the meeting of Committee of Directors of the company, Vedanta Ltd said in a regulatory filing.

"The Committee of Directors on Thursday, considered and approved for raising, on a private placement basis, up to 2,50,000 secured, unrated, unlisted, redeemable, non convertible debentures of face value Rs 1,00,000 each aggregating upto Rs 2,500 crore in one or more tranche(s)," the filing said.

A subsidiary of Vedanta Resources Ltd, Vedanta Ltd has operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.