Vedanta rises on board to mull NCD issue

Vedanta rose 1.12% to Rs 319.45 after the company said that its board will meet on Saturday, 4 June 2022, to consider raising funds by issuing non-convertible debentures in one or more tranches.

The company proposes to offer rated, secured, redeemable, non-cumulative and non-convertible debentures aggregating up to Rs 4,100 crore.

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.

Vedanta reported 10% drop in consolidated net profit to Rs 5,799 crore on a 41% increase in revenue from operations to Rs 39,342 crore in Q4 FY22 over Q4 FY21.

 

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