Vedanta Ltd raises Rs. 4089 crores through NCDs

The duly authorized Committee of Directors of Vedanta Ltd at its meeting held today i.e. Saturday, June 04, 2022, considered and approved offering for subscription, on a private placement basis, up to 40,890 nos. Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value ₹ 10,00,000/- each aggregating up to ₹ 4,089 Crores.

The Credit Rating of the instrument is CRISIL AA/Stable.

The instruments are secured by way of first pari-passu charge on the specific movable and/or immovable Fixed Assets, as may be identified and notified by the Issuer to the Security Trustee from time to time, with minimum asset coverage of 1.25 times of the aggregate face value of NCD's outstanding at any point of time.

Shares of Vedanta Limited was last trading in BSE at Rs. 316.75 as compared to the previous close of Rs. 321.55. The total number of shares traded during the day was 269283 in over 4328 trades.

The stock hit an intraday high of Rs. 325.35 and intraday low of 315.60. The net turnover during the day was Rs. 86091872.00.

Source : Equity Bulls

Keywords

Vedanta INE205A01025 VEDL FundRaising NCDs