Vedanta has allotted 20,000, 9.45% Secured, Rated, Non-Cumulative, Redeemable, Non-Convertible Debentures (NCDs) of Rs. 10,00,000 each aggregating to Rs. 20,000 crore to State Bank of India (SBI) on August 17, 2015. The NCDs are long term funds and this issuance will reduce company’s cost of funds.
Vedanta is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.