Vedanta says directors' panel approves raising up to Rs 1,000 crore via NCDs

Vedanta Ltd on Monday said a committee of directors has approved raising up to Rs 1,000 crore through non-convertible debentures (NCDs) on private placement basis.

The meeting was held on Monday, Vedanta said in a filing to BSE.

"The duly authorised committee of directors at its meeting ...Considered and approved offering for subscription, on a private placement basis, up to 10,000 nos secured, rated, listed, redeemable, NCDs....Aggregating up to Rs 1,000 crore," the filing said.

Vedanta, a subsidiary of Vedanta Resources Ltd, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.