 "Vedanta to raise upto ₹5,000 crore via unsecured bond issue for refinancing")
Vedanta, the Indian mining and metals company owned by billionaire Anil Agarwal, plans to raise upto ₹5,000 crore ($585 million) through unsecured bonds to refinance existing debt and support capital expenditure.
The proposed issuance offers investors three structures. The first tranche is ₹2,250 crore with a ₹750 crore greenshoe option, maturing in December 2027. A second option totals ₹1,000 crore with a ₹75 crore greenshoe and a three-year tenor, while the third comprises ₹850 crore, maturing in two years, a company spokesperson said.
The fundraising comes as Vedanta undergoes a major restructuring, spinning off its businesses into five independent, pure-play entities. The group has outlined a $4 billion investment plan over the next three years, with $1.5 billion already deployed in 2024–25 (FY25).
The proceeds of the latest fundraise will help address near-term maturities and enhance financial flexibility.
As of March 2025, Vedanta’s net debt stood at ₹53,251 crore, down over ₹3,000 crore from the previous year, driven by operational cash flows, a qualified institutional placement, and proceeds from a stake sale in its zinc unit. The company maintained an average debt maturity of over three years.
Vedanta’s London-based parent, Vedanta Resources, has reduced its debt to $5 billion in FY25 — the lowest in a decade — helped by strong dividend payouts from the Indian unit.
Shares of Vedanta closed flat at ₹434 in Mumbai on Tuesday, valuing the company at ₹1.69 trillion. Promoter group Vedanta Resources holds a 56.3 per cent stake.