Vedanta Looks To Raise Up To $300 Mln Via Debentures

Vedanta Ltd. plans to raise up to 2,500 crore rupees ($300 million) through the issuance of debentures in one or more tranches.

The metals conglomerate will issue up to 250,000 senior, secured, rated, listed, redeemable, non-convertible debentures of face value of 100,000 rupees each on a private placement basis, Vedanta said in a stock exchange announcement.

The company’s authorized committee of directors approved the proposed fundraising today. Vedanta, which plans to list the NCDs on the BSE, didn’t disclose how it will utilize the funds.

Note: $1 = 83.4592 Indian rupees

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