Vedanta to raise Rs 2,500 crore in non-convertible debentures

Vedanta Limited is seeking to raise up to Rs 2,500 crore in non-convertible debentures. “The duly authorised Committee of Directors at its meeting held on Thursday considered and approved for raising, on a private placement basis, up to 2,50,000 nos. Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 1,00,000 each aggregating up to Rs 2,500 crore in one or more tranche(s)," the company said.

The shares of Vedanta were up almost 4 per cent in trade on Thursday. Vedanta Aluminium, India's largest producer of the metal, announced ongoing expansion efforts to be among the top three global players with 3 million tonnes per annum (MTPA) of production capacity. In a significant step towards achieving 100 per cent vertical integration, the company announced the successful commissioning of the new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha. This additional 1.5 MTPA capacity is a part of the company's new 3 MTPA facility, which will take the overall nameplate capacity at the Lanjigarh refinery from the existing 2 MTPA to 5 MTPA.