Vedanta may issue NCDs; parent could raise $1 billion via stake sale

Vedanta informed the stock exchanges in a communication on Monday that a committee of directors would meet on April 13 to consider the issuance of NCDs on a private placement basis

BSE-listed Vedanta Ltd is planning to issue bonds, while promoter Vedanta Resources Ltd (VRL), according to banking sources, might be looking to raise around $1 billion through a sale of up to 5 per cent stake.

Vedanta informed the stock exchanges in a communication on Monday that a committee of directors would meet on April 13 to consider the issuance of non-convertible debentures (NCDs) on a private placement basis. The company, which announced a record Rs 37,700-crore dividend for 2022-23, did not disclose the amount it hoped to raise by issuing NCDs.

VRL, which owns around 70 per cent in