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Vedanta's bid to raise Rs 350 cr via NCDs gets approved

Debentures to be redeemed after 2 yrs from date of allotment through cash flows of the company

Vedanta
Press Trust of India New Delhi
Last Updated : May 31 2017 | 2:29 PM IST
Vedanta Ltd on Wednesday said that a board-appointed panel has approved raising up to Rs 350 crore via issuance of non-convertible debentures.

"A meeting of duly authorised committee of directors was held today...For approving offering for subscription, on a private placement basis, up to 3500 secured, rated, listed, redeemable non-convertible debentures...Aggregating up to Rs 350 crore," Vedanta Ltd said in a BSE filing.

The NCDs are "to be redeemed after two years from date of allotment through cash flows of the company," the company said.

Shares of the company were trading down 2.29 per cent at Rs 239.30 on BSE.

Vedanta Ltd is one of the world's leading diversified natural resources companies. It involves in production of zinc, lead, silver, aluminium, copper, iron ore, oil & gas and commercial power, while its operations span across India, South Africa, Namibia, Ireland and Australia.

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First Published: May 31 2017 | 2:28 PM IST

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