Vedanta Raises $120 Mln Through Debentures

Indian conglomerate’s committee of directors approves the allotment of debentures today
Vedanta Raises $120 Mln Through Debentures

Indian conglomerate Vedanta Ltd. raised 1,000 crore rupees ($120 million) through the issuance of debentures.

A committee of directors today approved the allotment of 100,000 secured, rated, listed, redeemable, non-convertible debentures with a face value of 100,000 each on a private placement basis, Vedanta said in a stock exchange announcement.

In June, the company’s authorized committee of directors approved the fundraising. Vedanta didn’t disclose how it will utilize the funds.

Note: $1 = 83.5600 Indian rupees

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