Vedanta to raise up to Rs 1,250 crore via NCDs

Shares of the company were trading 2.59 per cent higher at Rs 192 on BSE

Mining major Vedanta on Wednesday said it will raise up to Rs 1,250 crore through issuance of non-convertible debentures (NCDs).

"The Committee of Directors of the Board of Directors of the company in their meeting held on September 30, 2016 has approved issuance of non-convertible debentures up to Rs 1,250 crore," Vedanta Ltd said in a BSE filing.

Last week, on September 30, Vedanta elevated G R Arun Kumar as the Chief Financial Officer (CFO) of the Vedanta Group. Kumar will be the CFO for both London-listed Vedanta Resources as well as BSE and NSE-listed Vedanta Ltd, like the outgoing CFO D D Jalan.

 

Kumar, currently Deputy CFO at Vedanta, will take over from Group CFO and Whole-time Director of Vedanta Ltd Jalan on his superannuation, effective September 30, it said in a statement.

Shares of Vedanta Ltd were trading 2.59 per cent higher at Rs 192 on BSE.