3 days ago
Vedanta to raise up to Rs 5,000 crore via debentures
Vedanta Ltd's board has approved raising up to Rs 5,000 crore through debenture issuance on a private placement basis. The mining conglomerate reported a significant increase in its consolidated net profit for the March quarter, driven by reduced production costs and increased volumes. The company anticipates completing its business demerger by the end of September.
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New Delhi, Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta "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 Rs 5,000 crore," the filing issue will be listed on the major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher company had posted a net profit of Rs 1,369 crore in the year-ago income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE on March 31, 2025, the company's gross debt stood at Rs 73,853 Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end."Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel. PTI
