The natural resources company on Wednesday said it plans to raise upto Rs 1,000 crore through non-convertible debentures (NCDs).
Vedanta proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating upto Rs 1,000 crore in one or more tranches.The board will meet on 27 December 2021 to consider the proposal, the company said in a filing.
The above issuance is pursuant to the board of directors' resolutions passed at their meeting held on 7 May 2019, and 3 October 2020.
Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.
On a consolidated basis, Vedanta reported attributable net profit of Rs 4,615 crore in Q2 September 2021, steeply higher than Rs 824 crore in Q2 September 2020. Net sales rose 44% to Rs 30,048 crore in Q2 FY22 over Q2 FY21.
Shares of Vedanta were up 0.88% to Rs 345.
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