Vedanta has received approval to raise funds on a private placement basis, up to 4500 Secured, Rated, Non-Cumulative, Redeemable, Non-Convertible Debentures (NCDs) of face value of 10 lakh each, aggregating up to Rs 4500 crore. The Board of Directors of the company at its meeting held on March 23, 2018, approved the same.
The rating agency, CRISIL has assigned ‘AA; Positive’ rating to the said issue. Instrument are proposed to be listed on BSE.
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.
