Vedanta has received an approval to raise up to Rs 500 crore this week through an issue of securities on private placement basis.
The duly authorized committee of directors in a meeting approved offering for subscription, on a private placement basis, up to 500 secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) aggregating up to Rs 500 crore. The date of allotment of securities is December 20, 2017 and date of maturity is December 4, 2020.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
