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( 29 Jun 2018)
Vedanta plans to raise up to Rs 1,500 cr through NCDs

Vedanta Ltd said it plans to raise up to Rs 1,500 crore through issuance of non-convertible debentures (NCDs), reported PTI.

"The company proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 1,500 crore in one or more tranches," Vedanta said in a BSE filing.

A meeting of the duly constituted committee of the directors is likely in this regard next week, the filing said.

"The above issuance is pursuant to the approval of the shareholders passed vide special resolution at the 52nd annual general meeting of the company held on July 14, 2017 and the board of directors' resolution passed at their meeting held on January 31, 2018 and June 26, 2018," the filing said.

Vedanta Ltd, a Vedanta Group company is a global diversified natural resources firm, with operations across zinc-lead-silver, oil and gas, iron ore, copper, aluminium and commercial power.