Vedanta’s Promoters have pledged their holding in the company to raise $1.4 billion, mostly for repaying the debt that was coming up for maturity. The company’s promoters raised $1 billion debt by issuing equivalent notes to Citicorp International. Separately, a unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group. The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc leadsilver, copper, iron ore, aluminium and commercial power.
| Company Name | CMP |
|---|---|
| Hindalco | 1038.95 |
| Vedanta | 787.60 |
| Hindustan Zinc | 592.35 |
| Jain Resource Recycl | 420.90 |
| Gravita India | 1639.80 |
| View more.. | |
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