Latest news with #Vedanta
India.com
2 hours ago
- Business
- India.com
Billionaire Anil Agarwal plans to raise up to Rs 5000000000 via...
New Delhi: Anil Agarwal-led mining firm Vedanta Ltd on Friday, May 30 said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved the issuance of 5 lakh unsecured, rated, listed, redeemable non-convertible debentures (NCDs) of face value of Rs 1 lakh each on a private placement basis, according to 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 company said in the filing. In the January-March quarter, Vedanta reported a 154.4 per cent growth in its consolidated net profit to Rs 3,483 crore which was pushed by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. During Q4 FY25, its income rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. A top official of the company said that the demerger of its businesses is expected by the end of September this year. 'We are on track to finish (the demerger) by the second quarter end,' said Vedanta CFO Ajay Goel while talking to news agency PTI. Vedanta 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. The appellate tribunal National Company Law Appellate Tribunal (NCLAT) has stayed the National Company Law Tribunal (NCLT) orders against the demerger of the multinational mining company into separate entities and subsequent listing. The Mumbai bench of NCLT had on March 4, 2025 rejected the first motion petition moved for the composite scheme of arrangement between Vedanta in the matter of Talwandi Sabo Power Ltd (TSPL), observing that 'material facts have not been disclosed' regarding its debt obligations, which was against the Companies Act. (With PTI inputs)
Entrepreneur
a day ago
- Business
- Entrepreneur
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. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. 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."
Time of India
2 days ago
- Business
- Time of India
In a relief to Vedanta, NCLAT stays orders against company's demerger
Photo/Agencies NEW DELHI: In a relief to Vedanta, the appellate tribunal NCLAT has stayed the National Company Law Tribunal orders against the demerger of the multinational mining company into separate entities and subsequent listing. The Mumbai bench of NCLT had on March 4 rejected the first motion petition moved for the composite scheme of arrangement between Vedanta in the matter of Talwandi Sabo Power (TSPL), observing that material facts have not been disclosed regarding its debt obligations, which was against the Companies Act. This was immediately challenged before the NCLAT, which earlier this week stayed the order passed by the NCLT bench till its next hearing, scheduled on Aug 4, 2025. The appellate tribunal said: "Issues raised before us need to be considered at length and presently in view of the submissions made the scheme is severable and thus in case the stay is not granted to the impugned order it may affect the second motion application filed in respect of other three transferor companies pending in different tribunals." A two-member NCLAT bench also agreed to the proposal of submission of a bank guarantee of Rs 1,245 crore claimed by its creditor Sepco Electric Power Construction Corporation, without prejudice to their rights. The first motion application is usually filed before the NCLT by the transferor and transferee companies. The second motion then follows after the first motion is granted, allowing for the court to fully evaluate the scheme. agencies Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
2 days ago
- Business
- Business Standard
Vedanta Ltd to raise Rs 5,000 crore via NCDs as profit surges in Q4
Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The 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 said. The issue will be listed on the BSE. Mining 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 volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. The 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 filing. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking 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.
Time of India
2 days ago
- Business
- Time of India
Vedanta to raise up to ₹5,000 cr via debentures
New Delhi: Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to ₹5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of ₹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 ₹5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to ₹3,483 crore in the March quarter driven by lower production costs and higher volumes. The company had posted a net profit of ₹1,369 crore in the year-ago period. The income of the company during the January-March period rose to ₹41,216 crore from ₹36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at ₹73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking 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.
