Vedanta to Raise INR 5,000 Crore via Debentures
The company's committee of directors has approved the issuance of 5 lakh unsecured, rated, listed, redeemable NCDs with a face value of INR 1 lakh each. The issuance will be done on a private placement basis and will be listed on the BSE.
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Vedanta Ltd has announced plans to raise up to INR 5,000 crore through the issuance of non-convertible debentures (NCDs), as per a regulatory filing disclosed on Friday. The move comes as the mining conglomerate looks to bolster its financial strategy amid a solid earnings performance and an impending corporate restructuring.
In a report by PTI, as per the filing, the company's committee of directors has approved the issuance of 5 lakh unsecured, rated, listed, redeemable NCDs with a face value of INR 1 lakh each. The issuance will be done on a private placement basis and will be listed on the BSE.
"The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to INR 5,000 crore," the company stated.
This fundraising announcement follows a sharp rise in Vedanta's earnings for the March quarter. The company posted a consolidated net profit of INR 3,483 crore, marking a 154.4 per cent jump compared to INR 1,369 crore in the same period last year. The spike in profits was attributed to lower production costs and increased output volumes. Total income for the quarter rose to INR 41,216 crore, up from INR 36,093 crore a year earlier.
As of March 31, 2025, Vedanta's gross debt stood at INR 73,853 crore, placing increased significance on the company's capital management efforts. The planned NCD issuance appears to be a part of that broader financial recalibration.
Meanwhile, the company is also moving ahead with a major structural overhaul. The demerger of its various businesses, aimed at unlocking value and improving operational focus, is expected to be completed by the end of the second quarter of the current financial year.
Speaking to PTI, Vedanta's Chief Financial Officer Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end."
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