Vedanta Receives Approval For Private Placement Of NCDs Worth ₹2,500 Crores
The NCDs are proposed to be listed on the BSE Limited.
![Representative Image | File](https://media.assettype.com/freepressjournal/import/2016/08/Vedanta.jpeg?width=1200)
Representative Image | File
Vedanta Limited on Thursday announced that the company had received approval from its authorised committee of Directors to raise funds through a private placement of Non-Convertible Debentures (NCDs), the company announced through an exchange filing.
This decision was made during a meeting held by the company on Thursday, April 4, 2024.
What are the Key Issuance?
In the type of securities to be issued, the proposed issuance comprises Senior, Secured, Rated, Listed, Redeemable NCDs, each with a face value of Rs 1,00,000.
Also, in the issuance, the company plans to raise funds through a private placement.
About the total number of securities, the company intends to issue up yo 2,20,000 NCDs, aggregating up to Rs 2,500 crore, in one or more tranches.
Size of the Issue
The total size of the issue is slated to be up to Rs 2,500 Crores.
Listing
The NCDs are proposed to be listed on the BSE Limited.
Other Details
Specific details regarding the tenure of the instrument, including the date of allotment and maturity; Coupon/Interest Offered; Charge/Security; Special Rights/Privileges; Payment Defaults/ Comments on Letter/Comments received; Detail of redemptions of debentures will be outlined in the Disclosure Document.
Vedanta Ltd shares
The shares of Vedanta Ltd on Thursday at 1:55 pm IST were trading at Rs 310, up by 3.75 per cent.
The company witnessed a 3 per cent surge in its shares to a 52-week high of Rs 312.50 on the NSE, driven by record-breaking annual volumes across its key businesses.
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