Vedanta board approves plan to raise Rs 2,100 cr via NCDs

NEW DELHI: The committee of directors of mining giant Vedanta Ltd has approved a proposal to raise up to Rs 2,100 crore by issuing non-convertible debentures (NCDs).

The proposal was approved on Thursday during a meeting of its Committee of Directors, Vedanta Ltd said in a regulatory filing.

''Committee of Directors... on April 13, 2023, considered and approved for raising, on a private placement basis, up to 21,000 numbers secured, unrated, unlisted, redeemable, NCDs of face value Rs 10,00,000/ each aggregating up to Rs 2,100 crore in one or more tranche(s),'' it added.

It will be issued on a private placement basis, the company said.

Vedanta Ltd, a subsidiary of Vedanta, is a diversified global natural resources company.