Vedanta to raise Rs 500 cr via securities issue this week

Vedanta Ltd today said it will raise up to Rs 500 crore this week through an issue of securities on private placement basis.
The duly authorised committee of directors in a meeting today approved offering for subscription, on a private placement basis, up to 500 secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) aggregating up to Rs 500 crore, Vedanta Ltd said in a filing to BSE.
The date of allotment of securities is December 20, 2017 and date of maturity is December 4, 2020, the filing said.
Vedanta Ltd is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

The company has a presence across India, South Africa, Namibia, Australia and Ireland. Vedanta is the Indian subsidiary of Vedanta Resources Plc, a London-listed company.