Vedanta Mines for Capital: Major Debenture Issuance Announced

Mining giant Vedanta Ltd has announced its intention to raise Rs 5,000 crore through the issuance of non-convertible debentures. A committee of directors greenlit the plan to issue five lakh unsecured, rated, listed, redeemable NCDs with a face value of Rs 1 lakh each, according to a regulatory filing.

The debentures are expected to be listed on the Bombay Stock Exchange (BSE). The decision comes in the wake of Vedanta Ltd reporting a remarkable 154.4% surge in its consolidated net profit, which reached Rs 3,483 crore for the March quarter, driven by reduced production costs and increased volumes.

Meanwhile, the Anil Agarwal-led company, one of the world leaders in natural resources and technology, anticipates completing the demerger of its businesses by September-end. This strategic shift is part of Vedanta's broader expansion across sectors and geographies.

(With inputs from agencies.)