Vedanta Raises Rs 2,575 Crore via Oversubscribed NCD Issue with Institutional Support

Vedanta Ltd is raising Rs 2,575 crore through a non-convertible debenture (NCD) issue after strong demand from institutional investors, including ICICI Prudential, Kotak, and Aditya Birla Sun Life Mutual Funds. The three-year unsecured debentures carry an 8.95% coupon and an 'AA' rating by ICRA. The issue was oversubscribed, prompting a Rs 575 crore greenshoe option. This fundraising aims to diversify funding, refinance debt, and reduce borrowing costs, with Vedanta improving its net debt-to-EBITDA ratio to 1.23.