Vedanta Ltd Board Approves Rs 3,000 Crore Fundraise via Non-Convertible Debentures

Vedanta Ltd's board-approved Committee of Directors has authorized a fundraise of up to Rs 3,000 crore through the issuance of unsecured, rated, listed, redeemable non-convertible debentures (NCDs) via private placement. The company plans to issue up to 3,00,000 NCDs with a face value of Rs 1,00,000 each, to be listed on the BSE. Vedanta's shares rose between 4 to 5 percent following the announcement, with no reported defaults on its debt obligations.